Surprising stock jumps over 30% after SEC confirms merger
Shares of KindlyMD, Inc. (Nasdaq: KDLY) soared over 30% on May 21 after the healthcare firm confirmed via an SEC filing that its shareholders have approved a high-profile merger with Bitcoin company Nakamoto Holdings.
The post-market filing sent KDLY from $15.22 to $19.83 in a day, continuing an astonishing rally with shares up over 1,127% year-to-date.
Bitcoin-native businesses hold Bitcoin as part of their treasury strategy. The parties disclosed the deal on May 12. They anticipated closing within the third quarter of 2025 after a 20-day notice period when both companies file their informational statement with the SEC.
This merger represents a sea change for Kindly MD, which is historically a healthcare provider and is now a Bitcoin investment vehicle.
Nakamoto Holdings was founded by Bitcoin Magazine CEO David Bailey, who advised Donald Trump on crypto policy during the 2024 presidential campaign.
Per the statement, the combined company will use equity, debt, and other instruments to finance its Bitcoin-related growth.
This deal underscores how traditional companies are pursuing crypto-like exposure, particularly in Bitcoin, which many believe is a long-term store of value.
KDLY's explosive rise has also motivated other healthcare companies to integrate Bitcoin as part of their treasury strategy. On May 16, Basel Medical, a Singapore-based healthcare organization, announced plans for a $1 billion Bitcoin deal to provide liquidity to its balance sheet.
As per Kraken, Bitcoin was trading at $107,215 at press time, only 2% short of its record high.
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