KindlyMD soars on deal with David Bailey-backed Nakamoto to launch bitcoin treasury

Nakamoto Packs Co

12/05/2025 12:31

** Healthcare firm KindlyMD's KDLY.O shares rocket 438.5% to $21 premarket

** KDLY agrees to merge with Nakamoto Holdings, founded by crypto entrepreneur David Bailey, to start bitcoin treasury strategy

** Firm is latest in growing cohort of companies that have attempted to replicate approach of Michael Saylor's Strategy MSTR.O

** Combined company will be led by Bailey and will aim to accumulate bitcoin, giving investors exposure to the cryptocurrency

** KDLY has secured $510 million private placement in public equity (PIPE) financing and $200 million in convertible bonds

** Combined company expected to be renamed and trade on Nasdaq under new ticker symbol

** "Traditional finance and bitcoin-native markets are converging. The securitization of bitcoin will redraw the world’s economic map. We believe a future is coming where every balance sheet – public or private – holds bitcoin," Bailey says

** PIPE financing involved participation from investment firms including Van Eck and Yorkville Advisors

 (Reporting by Arasu Kannagi Basil in Bengaluru)

 ((ArasuKannagi.Basil@thomsonreuters.com;))