Semler Scientific Inc. has launched a private offering to sell $75 million in convertible senior notes due in 2030. Qualified institutional buyers will have the opportunity to acquire these notes along with an additional $15 million option during the initial 13-day purchase window. The funds raised will support general corporate purposes and notably the acquisition of Bitcoin.

These notes are unsecured senior obligations accruing interest payable semiannually. Semler may pay or deliver cash shares of common stock or a combination thereof upon conversion at its discretion. Terms such as the interest rate and initial conversion rate will be set at the time of pricing.

Semler plans to enter capped call transactions to minimize dilution from note conversions. The offering and capped call transactions depend on market conditions and there’s no guarantee of completion terms or timing. These financial maneuvers underscore Semler’s strategic approach to incorporating cryptocurrency into its investment portfolio.