KindlyMD stock skyrockets 600% after merger with Nakamoto
KindlyMD experienced a 600% increase in stock value following the announcement of its merger with Nakamoto Holdings, a bitcoin investment company founded by Donald Trump's cryptocurrency advisor, David Bailey. The new company secured $200 (CAD 280) million in convertible debt and $510 (CAD 714) million from PIPE investments.
KindlyMD, a company in the healthcare sector, saw a sharp increase in stock value by 600% after the announcement of the merger with Nakamoto Holdings. Nakamoto Holdings is a bitcoin investment firm founded by David Bailey, a key cryptocurrency advisor to President Donald Trump, reported CNBC.
The newly formed company secured $200 (CAD 270) million in convertible debt and $510 (CAD 714) from PIPE investments, offering shares at $1.12 (CAD 1.56) each.
Among the over 200 investors who supported this initiative were Actai Ventures, Arrington Capital, and Yorkville Advisors.
The group of individual investors included prominent figures in the bitcoin world, such as Adam Back, Balaji Srinivasan, and Ricardo Salinas.
KindlyMD shares will continue to be listed under the symbol 'KDLY', but there are plans to change the name and ticker symbol of the new company. Nakamoto Holdings, under Bailey's direction, will focus on acquiring and storing bitcoins.
