KindlyMD and Nakamoto Secure Additional $51.5 Million in PIPE Financing to Support Bitcoin Reserve Program

According to Businesswire, Kindly MD, Inc. (NASDAQ: NAKA), which previously announced plans to merge with the Bitcoin-native holding company Nakamoto Holdings Inc., has announced the completion of an additional $51.5 million in private investment in public equity (PIPE) financing to support its plan to build Bitcoin reserves.

To date, KindlyMD has raised approximately $563 million through PIPE financing. Including convertible bonds, the total amount raised is about $763 million.

David Bailey, founder and CEO of Nakamoto, stated that the company will continue to execute its strategy of raising as much capital as possible to purchase as much Bitcoin as possible. The net proceeds from the PIPE financing will be used by KindlyMD to purchase Bitcoin, as well as for working capital and general corporate purposes.