Semler Scientific Eyes $500M Raise with Possible Bitcoin Expansion

Semler Scientific is preparing to raise up to $500 million through a flexible securities offering, signaling that part of the funds could be used

Semler Scientific is planning to expand its treasury holdings to include Bitcoin (BTC) as it prepares for a flexible securities offering of up to $500 million.

The medical technology firm disclosed the plans in a recent filing with the U.S. Securities and Exchange Commission.

According to the document, Semler is seeking approval to issue a mix of securities in future offerings, potentially including stocks, bonds, or other financial instruments.

Specifics on each issuance will be disclosed in supplemental filings as they’re rolled out. The company added that the securities could be sold via direct offerings, or through intermediaries like brokers or underwriters.

Semler’s stock, which trades under the ticker SMLR on the Nasdaq Capital Market, has been volatile over the past year. Since the beginning of 2024, its price has ranged between $21.03 and $74.73, and most recently settled at $34.26.

The company attributes some of this volatility to broader cryptocurrency market fluctuations and its newly adopted strategy of holding Bitcoin in its treasury.

However, Semler emphasized that its core business and financial health remain sound despite these price changes.

The company initially disclosed its interest in Bitcoin last year, joining several other public companies in shifting a portion of their capital into the digital asset.