Healthcare company KindlyMD merges with Trump’s crypto advisor David Bailey’s bitcoin-native company Nakamoto

Healthcare company KindlyMD has announced a merger with Trump’s crypto advisor David Bailey’s bitcoin-native company Nakamoto. The new company also announced a $710 million funding

KindlyMD (NASDAQ:KDLY) shares shot up more than 600% on Monday after the company announced a merger with Trump’s crypto advisor David Bailey’s bitcoin-native company Nakamoto and also disclosed a $710 million funding.

The two companies said they entered into a merger agreement, granting KindlyMD an extension to complete its pending merger agreement with Merger Sub, a wholly owned subsidiary of KindlyMD.

As part of the merger, KindlyMD will continue to trade publicly on the Nasdaq under the ticker symbol KDLY, which is expected to change when a new name for the company is formed.

The company also disclosed a $510 million private investment in public equity (PIPE) and a $200 million convertible note financing.

KindlyMD will continue to manage its healthcare operations following the merger, while Bailey, the founder of BTC Inc. and UTXO, will assume the role of CEO of the combined company.

The board of directors will comprise six directors appointed by Nakamoto and one director appointed by KindlyMD.

Nakamoto is focused on establishing the first global network of Bitcoin treasury companies. The company aims to build an ecosystem of Bitcoin-native companies, including media, advisory, and financial services, all designed to accelerate the adoption and utility of Bitcoin.

Some of the targeted vehicles for growing the Bitcoin treasury include accumulating Bitcoin and expanding the Bitcoin holdings on a per-share basis, or Bitcoin Yield through debt and other offerings.

“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,” said Bailey.

“We are bringing Bitcoin to the centre of global capital markets, packaging it into equity, debt, preferred shares, and new hybrid structures that every investor can understand and own.”

Pickett added that the merger marks a "strategic leap" for KindlyMD, enabling it to broaden its mission.

"We are combining forces with a company that has assembled an elite team with unmatched experience in navigating the complexities of Bitcoin. Together, we will create a unique and powerful entity capable of impacting the future of finance and healthcare on a global scale."