KindlyMD completes US$200 million in convertible bond financing and plans to increase its holdings in Bitcoin
Internet reports that Nasdaq-listed company KindlyMD (NAKA, merged with Bitcoin treasury company Nakamoto) completed a US$200 million convertible bond financing last Friday, and the funds will be used to increase its holdings of Bitcoin. The financing was arranged by Yorkville Advisors, with terms requiring KindlyMD to be collateralized in bitcoin equivalent to twice the principal amount and allowing creditors to convert into shares at an initial price of $2.80 per share.
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