KindlyMD Shares Surge 250% Post-Merger With Trump Crypto Advisor David Bailey
Summary
Shares of KindlyMD (KDLY) surged by 250% following a merger with Nakamoto Holdings, a Bitcoin investment firm. The merged entity secured $710 million in funding, comprising $200 million in convertible debt and $510 million through a private investment in public equity (PIPE) deal. PIPE investors are purchasing shares at $1.12, while convertible notes will convert at $2.80 after two years. Over 200 investors participated, including notable figures from the cryptocurrency sector. The merger is seen as a "transformational transaction," with plans for rebranding and a shift towards a bitcoin-focused business model, while still prioritizing opioid addiction treatment. Bitcoin's price has risen 8% weekly, nearing its all-time high of $109,000.
