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KindlyMD, Inc. (NASDAQ: NAKA) and Bitcoin-native holding company Nakamoto Holdings Inc. have officially completed their long-anticipated merger, forming a publicly traded Bitcoin treasury vehicle with ambitions to acquire one million BTC. The combined entity will operate under the KindlyMD name, trading on the Nasdaq Capital Market, while Nakamoto will function as a wholly owned subsidiary overseeing the Bitcoin financial services division.
“Our vision is for the world’s capital markets to operate on a Bitcoin standard. Today’s merger represents the beginning of that journey for our company,” said David Bailey, CEO of the combined company. “Since I started my journey in Bitcoin 13 years ago, I’ve always believed Bitcoin would become the most valuable asset in human history, held by every person, company, and government. The securitization of Bitcoin has shown us how institutions will adopt it. We intend to drive that forward.”
Tim Pickett, former KindlyMD CEO and now Chief Medical Officer, added: “We are thrilled to officially close our merger with Nakamoto. We’ve built KindlyMD on operational and innovative excellence, and we are now extending that same principle to our capital strategy. Bitcoin gives us the ability to preserve value with the same integrity we apply to delivering care.”
The transaction generated approximately $540 million in gross proceeds through a private placement in public equity (PIPE) financing, which will be used primarily for Bitcoin purchases. A $200 million convertible note offering is expected to close tomorrow.
Bailey will lead as CEO and Chairman of the Board, with a strengthened leadership team including Amanda Fabiano as COO, Tyler Evans as CIO, and Andrew Creighton as CCO. Newly appointed independent directors include Charles Blackburn, Perianne Boring, Eric Weiss, Greg Xethalis, and Mark Yusko, alongside Pickett.
The merged company’s mission is clear: build a premier, institutional-grade Bitcoin treasury vehicle to drive corporate and government adoption of the asset. By leveraging advanced corporate finance strategies, Nakamoto aims to simplify Bitcoin integration into global capital markets and position itself as a leader in public market Bitcoin treasury management.
Bailey reinforced his commitment on X, stating: “Honored to officially join KindlyMD as CEO and Chairman. Thank you for coming on this journey with me — together we will rebuild the world on the bitcoin standard. One Nakamoto = One million Bitcoin.”
Disclosure: Nakamoto is in partnership with Bitcoin Magazine’s parent company BTC Inc to build the first global network of Bitcoin treasury companies, where BTC Inc provides certain marketing services to Nakamoto. More information on this can be found here.
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