KindlyMD, a Nasdaq-listed healthcare services company, has announced plans for a large-scale equity program aimed at strengthening its corporate treasury with bitcoin. The firm revealed Tuesday that it filed a shelf registration statement with the U.S. Securities and Exchange Commission (SEC) to enable an at-the-market (ATM) equity offering of up to $5 billion.
According to the company, proceeds from the offering will be directed toward general corporate purposes, including a significant expansion of its bitcoin holdings. The program allows KindlyMD to issue and sell common stock through multiple agents, including TD Securities, Cantor Fitzgerald, and B. Riley Securities. Sales will be conducted at prevailing market prices on the Nasdaq, with timing and volume determined by the company.
The shelf registration provides flexibility by allowing KindlyMD to raise capital over time without the need for separate SEC approvals for each issuance. This move underscores the company’s increasing commitment to bitcoin, which began earlier this month after its merger with Nakamoto Holdings, a firm with a bitcoin-focused strategy.
Following the merger, KindlyMD disclosed its first major digital asset purchase: 5,744 bitcoin. The decision places the company among a growing list of publicly traded firms incorporating cryptocurrency into their balance sheets. The trend, popularized by MicroStrategy’s Michael Saylor, has seen corporations adopt bitcoin and, in some cases, diversify into other digital assets such as Ethereum, Solana, BNB, and XRP.
Despite the announcement, KindlyMD’s stock (trading under ticker symbol NAKA) fell 12% on Tuesday, closing at $8.07, according to Google Finance data. Meanwhile, bitcoin posted modest gains, rising 1.35% in the past 24 hours to trade at $111,089, data shows.
