David Bailey, founder of BTC Inc and UTXO, who advised Donald Trump on cryptocurrencies, together with the Nakamoto holding company, raised $710 million and announced the creation of bitcoin-treasury. In addition, Nakamoto announced a merger with KindlyMD, a leading provider of integrated healthcare services.
Out of the $710 million, $510 million was raised through a private placement of shares (PIPE) and another $200 million in the form of convertible bonds. This is the largest capital raise for a bitcoin wallet launch and the largest private placement in the crypto industry.
David Bailey will lead the combined company as CEO. Tim Pickett, CEO and founder of KindlyMD, will continue to lead KindlyMD’s medical operations. The combined company’s board of directors will consist of six members appointed by Nakamoto and one director appointed by KindlyMD.
In partnership with BTC Inc, Nakamoto will create the first global network of companies with a bitcoin wallet. It will be an ecosystem that includes media, consulting, and financial services using Bitcoin. The combined company will aim to accumulate BTC and increase the share of bitcoins per share (Bitcoin Yield) through various equity, debt, and other instruments.
More than 200 investors from six continents have invested in PIPE, including Actai Ventures, Arrington Capital, BSQ Capital Partners, Kingsway, Off the Chain Capital, ParaFi, RK Capital, Van Eck, and Yorkville Advisors. Among the «business angels are»: Adam Back, Balaji Srinivasan, Danny Yang, Eric Semler (CEO of Semler Scientific), Jihan Wu, Ricardo Salinas, and Simon Gerovich (CEO of Metaplanet).
On May 12, KindlyMD shares soared by 600% after the announcement of the merger with Nakamoto Holdings.
Source: Nakamoto
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