KindlyMD, a Nasdaq-listed healthcare services company, has announced plans to significantly boost its bitcoin holdings through a major equity offering program.
Equity program details
On Tuesday, KindlyMD filed a shelf registration statement for an at-the-market (ATM) equity offering program of up to $5 billion.
The company intends to use the proceeds for general corporate purposes, including growth of its bitcoin treasury.
The ATM program enables KindlyMD to issue and sell up to $5 billion in common stock, utilizing sales agents such as TD Securities, Cantor Fitzgerald, and B. Riley Securities.
Sales will be executed at prevailing Nasdaq market prices, with the company determining the timing and volume.
Merger and bitcoin purchase
KindlyMD began its bitcoin strategy after its recent merger with Nakamoto Holdings.
Shortly after, the company announced its first purchase of 5,744 BTC.
This move places KindlyMD among a growing group of public firms adding bitcoin to their reserves.
Flexible capital raising
The shelf registration with the Securities and Exchange Commission provides KindlyMD with flexibility to raise capital as needed, without requiring separate approval for each sale.
The company stated in its press release:
“Net proceeds may be used to support general corporate purposes, including the expansion of its bitcoin treasury.”
