KindlyMD, Inc. (NASDAQ: KDLY), a Utah-based healthcare services provider, has entered into a merger agreement with Nakamoto Holdings Inc., a Bitcoin-native holding company. The transaction, announced on May 12, 2025, includes $710 million in financing through a combination of private placement and convertible notes.

The merger will create a publicly traded company focused on establishing a Bitcoin treasury strategy, with $510 million raised through private placement in public equity (PIPE) at $1.12 per share and $200 million in senior secured convertible notes maturing in 2028.

David Bailey, founder of BTC Inc. and Nakamoto Holdings, will serve as CEO of the combined entity. Tim…

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