KindlyMD (Naka) is a healthcare company listed on NASDAQ, which recently merged with Bitcoin BTC$110,981.61 Treasury company Nakamoto is planning to provide up to $5 billion in shares to fund more BTC purchases.
The Salt Lake City-based company has filed a shelf registration statement with the U.S. Securities and Exchange Commission (SEC) for its market share offering program.
The program will allow the company to sell its common stock through a variety of factors, including market prices, the company said Tuesday. This fund is also used for general corporate purposes, such as the acquisition of a company, assets, or technology.
KindlyMD launched the Bitcoin Treasury strategy earlier this month, making its first acquisition of 5,743.91 BTC ($635.4 million) on or around August 19th.
Naka’s shares fell 12% to $8.07 on Tuesday, resulting in a burning of BTC’s relatively slump in price lawsuits. Bitcoin has fallen more than 10% since rising to a high of over $123,000 in the middle of this month, according to Coindesk data.
Read more: David Bailey’s Nakamoto Holdings will be published through a merger with KindlyMD. Stocks are up 650%
