KindlyMD has announced a definitive merger agreement with Nakamoto Holdings Inc., a newly formed Bitcoin-native holding company founded by David Bailey.
Additionally, the move is the first step in creating a publicly traded conglomerate that has the goal of putting Bitcoin at the center of the world’s financial systems.
Bailey, founder of BTC Inc, will also become the CEO of the new company, with deep experience within the space, along with a vision for a future where Bitcoin has a core presence on public and private balance sheets.
Additionally, the merged company will focus on building a robust Bitcoin treasury and increasing Bitcoin ownership per share through equity, debt, and other financial instruments.
This approach intends to bring Bitcoin into mainstream investment portfolios by offering traditional structures that institutional and retail investors can easily understand and adopt. BTC Inc will support the combined entity with marketing services under an agreement already in place with Nakamoto.
Tim Pickett, CEO and founder of KindlyMD, will continue to lead the company’s healthcare services, which remain focused on combating opioid dependence with holistic, data-driven care.
New Nasdaq listing combines medicine, Bitcoin
However, KindlyMD clinics will operate as usual, retaining their staff, values, and commitment to patient-first treatment models. The company integrates alternative medicine, mental health, and traditional care, reimbursed by Medicare, Medicaid, and commercial insurers.
The deal is accompanied by $510 million in PIPE financing selling at $1.12 per share and $200 million in 2028-maturity secured convertible notes.
More than 200 investors representing six continents participated in the financing, with some of the big names including ParaFi, RK Capital, and Van Eck.
Some of the notable individuals who participated include Adam Back, Balaji Srinivasan, Jihan Wu, and Ricardo Salinas, demonstrating the confidence in the Bitcoin-centric strategy.
After completing the transaction, the combined business will list on Nasdaq under a new ticker symbol and name, pending shareholder and regulatory approval.
Nonetheless, the directors on the board will consist of seven, six to be elected by Nakamoto, and one elected by KindlyMD. The move is a significant move to incorporate Bitcoin into regulated markets with a solid core business in value-driven healthcare provision.
