Nasdaq-listed KindlyMD plans $5 billion equity offering for bitcoin treasury push

KindlyMD, a Nasdaq-listed healthcare services firm, announced Tuesday that it has filed a shelf registration statement for an at-the-market equity offering program of up to $5 billion.

The company said it plans to use net proceeds to support general corporate purposes, including the expansion of its bitcoin treasury.

The planned program allows the company to issue and sell a maximum of $5 billion in common stock, through various sales agents, including TD Securities, Cantor Fitzgerald, and B. Riley Securities, its press release said.

Sales under the ATM program will occur at prevailing market prices on the Nasdaq or related prices, with timing and volume as determined by the company, according to the release.

The shelf registration with the Securities and Exchange Commission means that KindlyMD has pre-registered for the offering that will be held over a period of time, providing flexibility to raise capital without requesting separate approvals for each offering.

KindlyMD started its bitcoin strategy earlier this month following a merger with bitcoin-focused Nakamoto Holdings. Shortly after the merger, KindlyMD announced its first purchase of 5,744 BTC.

Following the success of Michael Saylor's Strategy, dozens of companies have established corporate crypto treasuries. While most of these holdings are concentrated in bitcoin and Ethereum, a growing number of firms are diversifying into other altcoins, including Solana, BNB, and XRP.

KindlyMD (NAKA) closed down 12% at $8.07 on Tuesday, according to Google Finance. Meanwhile, bitcoin is up 1.35% in the past 24 hours to trade at $111,089, The Block's bitcoin price page shows.

Disclaimer: The Block is an independent media outlet that delivers news, research, and data. As of November 2023, Foresight Ventures is a majority investor of The Block. Foresight Ventures invests in other companies in the crypto space. Crypto exchange Bitget is an anchor LP for Foresight Ventures. The Block continues to operate independently to deliver objective, impactful, and timely information about the crypto industry. Here are our current financial disclosures.

© 2025 The Block. All Rights Reserved. This article is provided for informational purposes only. It is not offered or intended to be used as legal, tax, investment, financial, or other advice.