Publicly traded company Kindly MD has completed a $51.5 million PIPE financing, which will be used to support its establishment of a Bitcoin treasury.

BlockBeats News, June 20th, Healthcare data company Kindly MD, Inc. (Nasdaq: NAKA, referred to as "KindlyMD") today announced that it has completed an additional $51.5 million "Private Investment in Public Equity" (PIPE) financing to support its efforts to establish a Bitcoin treasury. Previously, KindlyMD announced its intention to merge with Bitcoin-native holding company Nakamoto Holdings Inc. ("Nakamoto").

Currently, KindlyMD has raised a total of approximately $563 million through PIPE financing, and including convertible bonds, the total amount raised has reached approximately $763 million.

This transaction includes a $51.5 million PIPE financing priced at $5.00 per share, consisting entirely of KindlyMD's common stock. The net proceeds from the PIPE financing will be used by KindlyMD to purchase Bitcoin, supplement working capital, and for other general corporate purposes. This PIPE financing is expected to close concurrently with the merger.