KindlyMD to issue $5 billion in shares for Bitcoin treasury expansion

KindlyMD, a Nasdaq-listed healthcare company, plans to issue up to $5 billion in shares to expand its Bitcoin treasury business. The company will use the net proceeds for general corporate purposes, including expanding its Bitcoin treasury. The issuance will be through various sales agents and enables the company to issue and sell up to $5 billion worth of common stock.

SALT LAKE CITY, July 2, 2025 — KindlyMD, Inc. (NASDAQ: NAKA), a provider of integrated healthcare services and a Bitcoin treasury vehicle, has announced a significant $5 billion at-the-market (ATM) equity offering program. The company aims to use the proceeds from this offering to expand its Bitcoin treasury strategy, among other general corporate purposes [1].

The ATM Program, which is being executed through multiple sales agents including TD Securities, Cantor, B. Riley Securities, and others, will enable KindlyMD to issue and sell up to $5 billion worth of common stock directly into the market at prevailing prices [1, 2]. This approach provides the company with flexibility and avoids the traditional discount associated with secondary offerings.

The timing of this announcement is notable, coming just two weeks after KindlyMD's merger with Nakamoto Holdings Inc. and following an initial purchase of 5,744 Bitcoin. The company has indicated that the primary use of the net proceeds from the ATM Program will be to pursue its Bitcoin Treasury Strategy [1].

While the company has outlined various potential uses for the funds, including working capital, acquisitions, and capital expenditures, the emphasis on Bitcoin accumulation suggests a strategic shift towards transforming KindlyMD into a Bitcoin-focused entity [2]. This move signals a significant expansion of the company's cryptocurrency holdings and a potential shift in its core business focus.

The selection of nine different sales agents indicates that KindlyMD is establishing a robust distribution network to efficiently place these shares. This diverse broker lineup gives the company maximum flexibility to tap various investor bases across market conditions [1].

The ATM Program is being made pursuant to a prospectus supplement dated August 26, 2025, under the company's automatically effective Form S-3 registration statement [1]. Potential investors are encouraged to review the prospectus supplement and the accompanying base prospectus for more information about KindlyMD and the ATM Program [1].

References:
[1] https://www.newswire.com/news/kindlymd-announces-5-billion-at-the-market-equity-offering-program
[2] https://www.stocktitan.net/news/NAKA/kindly-md-announces-5-billion-at-the-market-equity-offering-eonv5inb5blf.html