Latest news with #YorkvilleAdvisors
Yahoo
13 hours ago
- Business
- Yahoo
KindlyMD Closes $200M Convertible Note Funding for More Bitcoin
KindlyMD (NAKA), the Nasdaq-listed firm that's recently merged with bitcoin (BTC) treasury firm Nakamoto closed a $200 million convertible note offering late Friday. The convertible notes bear no interest in the first two year, then they carry a 6% annual rate starting in year three until maturity in 2028. The firm intends to use the funds to buy additional bitcoin. The financing, arranged with Yorkville Advisors' YA II PN fund, was structured with some unusual terms, CoinDesk senior analyst James Van Straten noted. Yorkville can convert the debt into equity at an initial price of $2.80 per share, raising concerns of dilution if the lender opts to convert into stock. Nakamoto/KindlyMD also needs to put up twice the size of the principal in BTC as collateral, offering the lender a robust downside protection. NAKA shares were lower by 11.2% on Monday alongside news of the convertible capital raise and a weekend decline in the price of bitcoin. Other bitcoin treasury strategies were in the red as well, but the declines were more muted. Strategy (MSTR) and Semler Scientific (SMLR), for instance, were each down a bit more than 1%.Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
Associated Press
4 days ago
- Business
- Associated Press
KindlyMD Closes $200 Million Convertible Note Offering
Company Intends to Use Net Proceeds to Fund Purchase of Bitcoin and for General Corporate Purposes Follows the Completion of KindlyMD's Merger with Nakamoto to Form Institutional-Grade Bitcoin Treasury Vehicle SALT LAKE CITY, UT / ACCESS Newswire / August 15, 2025 / KindlyMD, Inc. (NASDAQ:NAKA) ('KindlyMD' or the 'Company'), a provider of integrated healthcare services and institutional-grade Bitcoin treasury vehicle, today announced that it has closed its previously announced offering of a senior secured convertible note in an aggregate principal amount of $200.0 million (the 'Convertible Note') in a private offering to YA II PN, Ltd., an investment fund managed by Yorkville Advisors ('YA II'). The closing of this Convertible Note offering follows the completion of KindlyMD's strategic combination with Nakamoto Holdings Inc. ('Nakamoto'), a Bitcoin-native holding company. The Company intends to use the net proceeds from the Convertible Note offering to purchase more Bitcoin, as well as for working capital and general corporate purposes. The issuance of the Convertible Note further expands the Company's Bitcoin treasury strategy and adds to the $540 million of gross proceeds from a private placement in public equity ('PIPE Financing'), which closed concurrently with the Company's combination with Nakamoto. David Bailey, Chief Executive Officer and Chairman of KindlyMD, said, 'The strong support we continue to receive from investors is validation of our pioneering Bitcoin treasury strategy. We are excited to leverage our enhanced balance sheet and differentiated go-to-market strategy to acquire as much Bitcoin as possible.' The Convertible Note bears interest at a rate of 0.00% per annum for the first two years, and 6.00% per annum for the third year and is payable on August 15, 2028, the third-year anniversary of the issuance date of the Convertible Debenture or earlier redemption date. The Convertible Note provides that YA II may convert all or any portion of the principal amount of the Convertible Note, together with any accrued and unpaid interest thereon, at an initial conversion price of $2.80, which is subject to adjustment and a floor price and maximum number of convertible shares of the Company's common stock. The Company also has the right to redeem the Convertible Note under certain circumstances. Advisors Cohen & Company Capital Markets ('CCM'), a division of Cohen & Company Securities, LLC served as lead financial advisor to Nakamoto and placement agent for the PIPE Financing. 10X Capital ('10X'), through its affiliated broker-dealer, also served as a financial advisor and placement agent. Reed Smith LLP and Holland & Hart LLP acted as legal advisor to KindlyMD. About KindlyMD KindlyMD® is a patient-first healthcare company integrating traditional primary care, pain management, behavioral health, and alternative therapies to provide comprehensive, whole-person care. In August 2025, KindlyMD completed its merger with Nakamoto Holdings Inc., a Bitcoin-native holding company, to establish a publicly traded Bitcoin treasury vehicle. This strategic combination unites KindlyMD's healthcare expertise with Nakamoto's vision of integrating Bitcoin into global capital markets, creating a diversified entity focused on both healthcare innovation and Bitcoin treasury management. For more information, please visit Forward-Looking Statements All statements, other than statements of historical fact, included in this press release that address activities, events or developments that that the Company expects, believes or anticipates will or may occur in the future are forward-looking statements, as defined under U.S. federal securities laws, related to KindlyMD. Forward-looking statements can be identified by the fact that they do not relate strictly to historical or current facts and often include statements about our future operations, business strategies, plans, objectives, expectations, intentions, goals, projections, prospects, future events, or performance, as well as underlying assumptions. These statements-covering matters such as expectations, plans, strategic outlooks, financial projections, market conditions, regulatory environments, Bitcoin-related strategies, Bitcoin treasury management activities, and KindlyMD's anticipated holding of Bitcoin as part of its corporate treasury are inherently uncertain and involve numerous assumptions and risks. Forward-looking terms used may include, but are not limited to, 'estimate,' 'project,' 'predict,' 'believe,' 'expect,' 'anticipate,' 'potential,' 'create,' 'intend,' 'could,' 'would,' 'may,' 'plan,' 'will,' 'guidance,' 'look,' 'goal,' 'future,' 'build,' 'focus,' 'continue,' 'strive,' 'allow,' 'seek,' 'aim,' 'target,' or the negative of such terms or other variations thereof and words and terms of similar substance used in connection with any discussion of future plans, actions, or events identify forward-looking statements and similar expressions. However, the absence of these words does not mean that the statements are not forward-looking. These forward-looking statements include, but are not limited to, descriptions of KindlyMD and its operations, strategies and plans, integration, debt levels and leverage ratio, capital expenditures, cash flows and anticipated uses thereof, including the purchase, custody, and potential sale or other use of Bitcoin, synergies, opportunities and anticipated future performance, including the management team and board of directors of KindlyMD. These statements may also relate to broader macroeconomic trends, industry developments, technology adoption, competitive positioning, market expansion, product launches, research and development efforts, acquisitions or dispositions, legal or regulatory developments, and other initiatives that could affect our future business performance. There are a number of risks and uncertainties that could cause actual results to differ materially from the forward-looking statements included in this communication. These include risks relating to Bitcoin market volatility, cybersecurity and custody of digital assets, potential changes in laws or accounting standards relating to cryptocurrency, and regulatory developments affecting Bitcoin or other digital assets, as well as the risk that changes in KindlyMD's capital structure and governance could have adverse effects on the market value of its securities; the ability of KindlyMD to retain customers and retain and hire key personnel and maintain relationships with their suppliers and customers and on KindlyMD operating results and business generally; the risk that KindlyMD may be unable to reduce expenses or access financing or liquidity; the impact of any related economic downturn; the risk of changes in governmental regulations or enforcement practices; adverse impacts from geopolitical events, health crises, supply chain disruptions, changes to laws or accounting standards, cybersecurity threats or data breaches, intellectual property disputes, competitive pressures, or changes in consumer behavior; and other important factors that could cause actual results to differ materially from those projected. All such factors are difficult to predict and are beyond KindlyMD's control, including those detailed in KindlyMD's Annual Reports on Form 10-K, Quarterly Reports on Form 10- Q, Current Reports on Form 8-K, and such other documents of KindlyMD filed, or to be filed, with the SEC that are or will be available on KindlyMD's website at and on the website of the SEC at All forward-looking statements are based on assumptions that KindlyMD believes to be reasonable but that may not prove to be accurate. Any forward-looking statement speaks only as of the date on which such statement is made, and KindlyMD does not undertake any obligation to correct or update any forward-looking statement, whether as a result of new information, future events or otherwise, except as required by applicable law. Readers are cautioned not to place undue reliance on these forward-looking statements, which speak only as of the date hereof. Nothing contained herein constitutes an offer to buy or sell securities of KindlyMD or any other party, nor does it constitute a solicitation of any proxy or vote. Contacts Media Carissa Felger / Sam Cohen Gasthalter & Co. Phone: (212) 257-4170 Email: [email protected] Investors Valter Pinto, Managing Director KCSA Strategic Communications Phone: (212) 896-1254 Email: [email protected] SOURCE: KindlyMD, Inc press release
Yahoo
03-07-2025
- Business
- Yahoo
Webull Announces $1 Billion Standby Equity Agreement
Company intends on opportunistically using capital for key growth initiatives ST. PETERSBURG, Fla., July 3, 2025 /PRNewswire/ -- Webull Corporation (Nasdaq: BULL) ("Webull" or the "Company"), the owner of the Webull online investment platform, announced today that it has secured an important financing option by entering into a standby equity purchase agreement ("Purchase Agreement") with YA II PN, Ltd., an investment fund managed by Yorkville Advisors ("Yorkville"). Subject to certain customary conditions, the Purchase Agreement grants Webull the option, at its sole discretion, to issue up to $1.0 billion in Class A ordinary shares to Yorkville over three years. The per share subscription price Yorkville will pay for the shares will be a 2.5% discount to the Market Price (as that term is defined in the Purchase Agreement) during each one-day pricing period elected by the Company. Webull intends to use the Purchase Agreement strategically to raise and deploy capital, using as little or as much as circumstances warrant, when market conditions and business opportunities justify doing so. "With access to capital available through the Purchase Agreement, Webull is well positioned to pursue new growth opportunities, such as product expansion, new asset classes, and geographic expansion," said Anthony Denier, Group President and U.S. CEO of Webull. "As we survey the evolving market landscape and consider next-generation technologies in the space such as stable coins and real-world asset tokenization, access to capital will be critical to our ability to innovate and compete on the cutting edge going forward." About Webull Corporation Webull Corporation (NASDAQ: BULL) owns and operates Webull, a leading digital investment platform built on next-generation global infrastructure. Through its global network of licensed brokerages, Webull offers investment services in 14 markets across North America, Asia Pacific, Europe, and Latin America. Webull serves more than 24 million registered users globally, providing retail investors with 24/7 access to global financial markets. Users can put investment strategies to work by trading global stocks, ETFs, options, futures, fractional shares, and digital assets through Webull's trading platform, which seamlessly integrates market data and information, its user community, and investor education resources. Learn more at You may also access certain information on Webull and its securities on the website of the SEC at where Webull will, among others, be filing reports, such as Reports on Form 6-K and its Annual Report on Form 20-F. Cautionary Note Regarding Forward-Looking Statements This press release includes "forward-looking statements" within the meaning of the "safe harbor" provisions of the United States Private Securities Litigation Reform Act of 1995. All statements other than statements of historical fact contained in this press release or other statements of the Company are forward-looking statements. Some of these forward-looking statements can be identified by the use of forward-looking words, including "anticipate," "expect," "suggests," "plan," "believe," "predict," "potential," "seek," "future," "propose," "continue," "intend," "estimates," "targets," "projects," "should," "could," "would," "may," "will," "forecast" or the negatives of these terms or variations of them or similar terminology although not all forward-looking statements contain such terminology. All forward-looking statements are based upon current estimates and forecasts and reflect the reasonable views, assumptions, expectations, and opinions of the Company and its management as of the date of this press release, and are therefore subject to a number of factors, risks and uncertainties, some of which are not currently known to the Company and its management and could cause actual results to differ materially from those expressed or implied by such forward-looking statements. Some of these factors include, but are not limited to: (1) the ability of the Company to grow and manage growth profitably, maintain relationships and deepen engagement with users, customers and suppliers, and retain its management and key employees; (2) the reliance of key functions of the Company's business on third-parties and the risk that the Company's platform and systems rely on software and applications that are highly technical and may contain undetected errors that could result in unexpected network interruptions, failures, security breaches, or computer virus attacks; (3) the risks associated with the Company's global operations and continued global expansion, including, but not limited to, the risks related to complex or constantly evolving political or regulatory environments that may result in substantial costs or require adverse changes to the Company's business practices; (4) the Company's estimates of expenses and costs, of profitability or of other operational and financial metrics as well as the Company's expectations regarding demand for and market acceptance of its products and service; (5) the Company's reliance on trading related income, including payment for order flow ("PFOF"), and the risk of new regulation or bans on PFOF and similar practices; (6) the Company's exposure to fluctuations in interest rates, rapidly changing interest rate environments, volatile prices of securities and digital assets and their respective trading volumes; (7) the Company's reliance on a limited number of market makers and liquidity providers to generate a large portion of its revenues, and the negative impact of the loss of any of those market makers or liquidity providers; (8) the effects of competition in the Company's industry and the Company's need to constantly innovate and invest in new markets, products, technologies or services to retain, attract and deepen engagement with users; (9) changes in international trade policies and trade disputes that could result in tariffs, taxes or other protectionist measures adversely affecting our business; (10) risks related to general political, economic and business conditions globally and in jurisdictions where the Company operates; (11) risk of further actions taken by various government bodies in the United States that have made the Company the subject of inquiries and investigations relating to concerns about our connections to China; (12) the risk that the failure to protect customer data and privacy or to prevent security breaches relating to the Company's platform could result in economic loss, damage to its reputation, deter customers from using its products and services, and expose it to legal penalties and liability; (13) risks related to the Company's need as a regulated financial services company to develop and maintain effective compliance and risk management infrastructures as well as to maintain capital levels required by regulators and self-regulatory organizations; (14) the ability to meet, or continue to meet, stock exchange listing standards; (15) the possibility of adverse developments in pending or new litigation and regulatory investigations; (16) our ability to meet conditions precedents to issue Class A ordinary shares to Yorkville under the Purchase Agreement and the fact that there can be no guarantee of how many Class A ordinary shares will be sold under the Purchase Agreement, if any at all; (17) risks related to significant disruptions in the cryptocurrency market that negatively impacts user engagement with cryptocurrency trading on our platform; (18) political, regulatory or economic changes that affect cryptocurrencies, including changes in the governance of a cryptocurrency; and (19) other risks and uncertainties that are more fully described in filings made, or to be made, by the Company with the SEC, including in the sections entitled "Risk Factors" and "Cautionary Note Regarding Forward-Looking Statements" in the Company's filings with the SEC. The foregoing list of factors is not exhaustive. Reported results should not be considered an indication of future performance. There may be additional risks that the Company and its management presently do not know about or that the Company and its management currently believe are immaterial that could also cause actual results to differ materially from those contained in the forward-looking statements. In light of these factors, risks and uncertainties, the forward-looking events and circumstances discussed in this press release may not occur, and any estimates, assumptions, expectations, forecasts, views or opinions set forth in this press release should be regarded as preliminary and for illustrative purposes only and accordingly, undue reliance should not be placed upon the forward-looking statements. The Company assumes no obligation and does not intend to update or revise these forward-looking statements, whether as a result of new information, future events, or otherwise, except as required by law. Webull Investor Relationsir@ Webull Media Relations5W Public RelationsNicholas KoulermosWebull@ 999 - 5585 View original content to download multimedia: SOURCE Webull Corporation Sign in to access your portfolio
Time of India
05-06-2025
- Business
- Time of India
Trump Media advances Bitcoin ETF plans with Truth Social Brand
HighlightsTrump Media & Technology Group Corporation is moving closer to launching an exchange-traded fund tied to Bitcoin, named Truth Social Bitcoin ETF, as it joins the competitive landscape of crypto-investment options for retail investors. The New York Stock Exchange Group Incorporated has filed regulatory paperwork for the new Truth Social Bitcoin ETF, which aims to track the price of Bitcoin and will be sponsored by Yorkville Advisors, described as an 'America-First asset management firm.' Critics have raised ethical concerns regarding the potential financial benefits to former President Donald Trump from the cryptocurrency initiatives linked to his name, despite assurances from the White House that he is separated from the businesses carrying his name. Trump Media & Technology Group Corp. appears to be one step closer to launching an exchange-traded fund tied to Bitcoin, joining the crowded field of crypto-investment offerings for the retail masses. NYSE Group Inc. filed regulatory paperwork on Tuesday to list the Truth Social Bitcoin ETF , using the name of President Donald Trump 's social network. Trump Media, which is majority-owned by Trump, applied in February to trademark brands for investment products with themes that closely track the president's policy priorities, including Bitcoin. The firm signed a formal agreement with a New Jersey-based firm, Yorkville Advisors — which it referred to as 'an America-First asset management firm' — to shepherd the products through the approval process. Yorkville America Digital is listed in Tuesday's filing as the sponsor of the new Truth Social ETF, which is set to buy and sell Bitcoin in order to track the price of the cryptocurrency. — through an affiliated entity named Foris DAX Trust Company LLC — will be the custodian of the digital tokens, according to the filing. The document does not mention Trump or offer a ticker or fees for the new fund. Yorkville and Trump Media did not immediately respond to requests for comment. If the fund is approved, it will join a universe of more than 60 US ETFs tied to Bitcoin. This one, though, could benefit from its ties to a president who has pushed for Bitcoin-friendly legislation and talked about creating a national cryptocurrency reserve. 'On one hand, this is pretty unchartered territory and a huge endorsement of Bitcoin from Trump's company,' said Bloomberg Intelligence senior ETF analyst Eric Balchunas. 'But on the other, it's a routine filing in a very crowded category and it will have its work cut out to attract flows and liquidity.' The ETF is one of the many cryptocurrency-related businesses being built by companies tied to Trump. Trump Media recently announced that it would be borrowing money to invest in Bitcoin, and the company previously said it would invest in the ETFs it issues. The links have drawn criticism from ethics experts because of the way Trump could benefit financially from areas where he is also responsible for setting policy. The White House has previously said the president is walled off from the businesses that carry his name. He has transferred about $4 billion worth of Trump Media shares to a trust controlled by his son Donald Trump Jr.
TechCrunch
22-05-2025
- Business
- TechCrunch
Luminar secures up to $200M following CEO departure and layoffs
Lidar company Luminar reached a deal with Yorkville Advisors Global and another unnamed investor that could bring another $200 million into its coffers through the sale of convertible preferred stock over an 18-month period. The agreement, which was announced in a regulatory filing Wednesday, follows an abrupt change in leadership and layoffs. Earlier this month, Luminar's board replaced founder Austin Russell as CEO and board chair. Luminar's board appointed Paul Ricci to the role. Ricci is the former chairman and CEO of Nuance. The company also launched another round of layoffs — its third since spring 2024. Under the terms, Luminar will issue $35 million in convertible preferred stock to the investors. Luminar may issue additional tranches in amounts of up $35 million no more than every 60 days at a purchase price equal to 96% of the stated value of the convertible preferred stock. However, Luminar isn't under any obligation to issue additional stock. 'Today's transaction provides us with additional financial flexibility and further strengthens our balance sheet,' Luminar CFO Tom Fennimore said in a statement 'We've made substantial progress in extending our liquidity runway with our restructuring efforts, and the additional capital available to us under this facility provides us with another tool to realize our long-term value.' The company said proceeds from the initial $35 million issuance are expected to be used for general corporate purposes and debt retirement. Yorkville has offered these lifelines to other struggling publicly traded companies, a list that includes failed Lordstown Motors, Faraday Future, and the now bankrupt Canoo. Luminar was founded by Russell in 2012 when he was just a teenager. Luminar, and Russell, became Silicon Valley darlings when the lidar startup broke cover in April 2017 after operating for years in secrecy and at the height of the autonomous vehicle technology hype cycle. Techcrunch event Join us at TechCrunch Sessions: AI Secure your spot for our leading AI industry event with speakers from OpenAI, Anthropic, and Cohere. For a limited time, tickets are just $292 for an entire day of expert talks, workshops, and potent networking. Exhibit at TechCrunch Sessions: AI Secure your spot at TC Sessions: AI and show 1,200+ decision-makers what you've built — without the big spend. Available through May 9 or while tables last. Berkeley, CA | REGISTER NOW In 2021, Luminar merged with special purpose acquisition company Gores Metropoulos Inc., with a post-deal market valuation of $3.4 billion. Today, Luminar has a market cap of $179 million. Luminar raised $250 million prior to the SPAC announcement. Luminar has had some wins, but also restructured several times. Luminar cut about 30% of its workforce in 2024 via two rounds of layoffs. Some of those layoffs spilled into the first quarter of 2025. A total of 212 employees were laid off. In a regulatory filing earlier this month, the company said it began additional layoffs May 15. These new layoffs are expected to cost $4 million to $5 million in cash charges. These costs are expected to be incurred in the second and third quarters of this year.
