"KindlyMD, Inc. (NASDAQ: NAKA), a provider of integrated healthcare services and a Bitcoin treasury vehicle through its subsidiary Nakamoto Holdings, is partnering with Antalpha (NASDAQ: ANTA). Antalpha is a fintech firm specializing in financing, technology, and risk management solutions for the digital asset industry. A key component of the partnership is a non-binding letter of intent under which Nakamoto plans to issue $250 million in five-year secured convertible notes to Antalpha."
"The convertible notes are intended to provide long-term financing with lower dilution risk for stockholders compared to standard convertible debt. The proceeds will also be used to expand Bitcoin holdings in the Nakamoto Bitcoin Treasury, fund general corporate purposes, and replace a prior $203 million Bitcoin-backed credit facility from Two Prime Lending Limited, which will remain available for future use. Pending the completion of the convertible debt facility, Antalpha will provide an interim Bitcoin-backed loan to support KindlyMD's treasury operations."
"The collaboration is designed to develop innovative financing structures for companies holding Bitcoin as a treasury asset and to support broader adoption of Bitcoin by public companies. Antalpha, which has established a leadership position in Bitcoin mining supply chain financial services, is extending its expertise beyond mining to serve organizations managing Bitcoin as a reserve asset. Company leadership emphasized the strategic importance of partnerships aligned with their long-term vision."
KindlyMD is partnering with Antalpha to secure long-term financing and expand its Bitcoin treasury through subsidiary Nakamoto Holdings. Nakamoto intends to issue $250 million in five-year secured convertible notes to Antalpha under a non-binding letter of intent. The notes aim to reduce dilution risk for stockholders relative to standard convertible debt. Proceeds will increase Bitcoin holdings, fund general corporate purposes, and replace an existing $203 million Bitcoin-backed credit facility from Two Prime Lending Limited, which will remain available. Antalpha will provide an interim Bitcoin-backed loan pending completion. The partnership targets financing structures for public companies holding Bitcoin as a reserve asset.
Read at Bitcoin Magazine
Unable to calculate read time
Collection
[
|
...
]