KindlyMD & Nakamoto Merge for Bitcoin-Focused Public Company
KindlyMD, Inc. (NASDAQ: KDLY) has announced a merger with Nakamoto Holdings Inc., creating a publicly traded company focused on Bitcoin treasury strategies. The deal, valued at $710 million, involves a reverse merger and is expected to close with KindlyMD shareholder approval.
The merger, announced on 31 August 2025, sees the majority of KindlyMD shareholders acquired by Bitcoin-native holding company Nakamoto. David Bailey, founder of BTC Inc. and Nakamoto Holdings, will serve as CEO of the combined entity, operating under the new name NAKA.
Financing for the merger comes from a combination of private placement and convertible notes, totalling $710 million. Over 200 investors, including institutions and individuals, have participated in the PIPE financing. Further details will be available in a Current Report on Form 8-K to be filed with the SEC.
The combined company's board will consist of six directors appointed by Nakamoto and one by KindlyMD. KindlyMD's shares will continue trading on Nasdaq under the symbol 'KDLY' until a new ticker symbol is announced. Tim Pickett will continue managing KindlyMD's healthcare operations.
The merger, subject to customary closing conditions and KindlyMD shareholder approval, reflects a strategic alignment in the Bitcoin treasury sector. It aims to create a publicly traded company focused on establishing a Bitcoin treasury strategy, with David Bailey at the helm.
Read also:
- U.S. CBP's Operation Plaza Spike Boosts Fentanyl Seizures Along Arizona-Mexico Border
- Regensburg Court Sentences Pizza Delivery Owner for Illegal Employment, Tax Evasion
- Tesla's EV Market Share Plummets in Europe, US Competition Intensifies
- Catastrophe at a U.S. Steel facility in Pennsylvania results in the loss of two lives. crucial details unveiled
