KindlyMD stocks skyrocket 600% after merger with Trump crypto marketing consultant David Bailey’s bitcoin funding corporate

Shares of KindlyMD skyrocketed 600% Monday after the healthcare corporate introduced a merger with Nakamoto Holdings, a bitcoin funding corporate based by means of David Bailey, a key cryptocurrency marketing consultant to President Donald Trump.

The newly shaped corporate has secured $200 million in convertible debt and $510 million in recent capital thru a personal funding in public fairness (PIPE) deal, providing stocks at $1.12 every.

The carry drew strengthen from greater than 200 buyers, together with Actai Ventures, Arrington Capital, BSQ Capital Partners, Kingsway, Van Eck, and Yorkville Advisors.

The roster of particular person buyers reads like a who is who of bitcoin — cryptographer Adam Back; Balaji Srinivasan, a former Coinbase govt; Jihan Wu, co-founder of Bitmain; and Ricardo Salinas, the Mexican billionaire who has change into one in every of bitcoin’s maximum vocal supporters.

Shares of KindlyMD will proceed to industry underneath the “KDLY” ticker. The blended corporate expects to be renamed and can get a brand new ticker image.

Nakamoto, led by means of Bailey as CEO, will center of attention on obtaining and retaining bitcoin — a method that has change into standard amongst funding companies searching for to show their inventory into an immediate guess at the cryptocurrency’s value.

“We believe a future is coming where every balance sheet – public or private – holds bitcoin,” Bailey stated in a press unencumber.

Bailey is not the primary to chase this fashion. Michael Saylor’s Strategy (previously MicroStrategy) reworked itself from a device corporate right into a bitcoin retaining company in 2020, changing its money reserves into bitcoin and looking at its inventory skyrocket as bitcoin’s worth surged.

But KindlyMD’s foray into crypto is even stranger, for the reason that the corporate constructed its emblem round preventing opioid dependancy with holistic well being services and products.

“This merger represents a strategic leap for KindlyMD, allowing us to expand our mission,” stated Tim Pickett, CEO of KindlyMD. “Nakamoto brings in a team with deep expertise in Bitcoin strategy and unparalleled access to the leading experts in bitcoin treasury management.”

Pickett, who will proceed to supervise KindlyMD’s healthcare operations, insisted that the clinics will care for their center of attention on treating opioid dependancy and providing patient-first care.

“It’s a bold new vision that will drive long-term value for our shareholders,” added Pickett.

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