Healthcare services firm KindlyMD, listed on Nasdaq, has announced a $5 billion stock sale program. The funds are intended to support key strategies.
Bitcoin Strategy of KindlyMD
In its official blog, KindlyMD stated that the proceeds from the program will be used to support its Bitcoin treasury strategy adopted after its merger with Nakamoto Holdings. Additionally, these funds may be allocated for working capital, acquisitions of businesses or technologies, capital expenditures, and investments in both existing operations and new projects.
Market Reaction to the Announcement
The company’s shares fell sharply on August 26, closing at $8.07, down 12% from the previous session’s close. The stock traded lower for most of the day, hitting a low of just above $7.9, with pre-market trading indicating a further drop of 2.11%, down to $7.90.
Trends in Bitcoin Accumulation Among Companies
KindlyMD began its Bitcoin strategy this month after merging with Nakamoto Holdings. This initiative aligns with a trend among US companies expanding their Bitcoin reserves. According to Bitcoin Treasuries, KindlyMD currently holds more BTC than companies like Semler Scientific and GameStop.
The announcement of the stock sale program and Bitcoin strategy highlights KindlyMD's plans for financial stability and growth in a challenging market.
