KindlyMD (NAKA) has partnered with digital asset financier Antalpha to establish a $250 million secured convertible debt facility, aiming to bolster its bitcoin treasury and enhance long-term balance sheet flexibility.
Through its subsidiary Nakomoto Holdings, KindlyMD will utilize Antalpha’s expertise in digital asset financing to develop new treasury tools tailored for bitcoin-focused companies.
The agreement, currently non-binding, envisions a five-year convertible note issuance to Antalpha. The proceeds are earmarked to refinance a previous $203 million bitcoin-secured credit line from Two Prime Lending and to expand KindlyMD’s bitcoin holdings. Pending completion, Antalpha will also extend an interim bitcoin-backed loan to the company.
KindlyMD currently holds 5,765 BTC. Its shares are trading just above $1, reflecting roughly a 95% decline from their all-time high in May.
About The Author
More Stories
Franklin Templeton added approximately $150 million in tokenized money market fund shares to the XRP Ledger on Friday, with all newly issued tokens sent to a single wallet. Two subscription transactions recorded on Thursday nearly quadrupled the fund’s token supply on the network.
Apex Group CEO Warns U.S. Clarity Act Delay Could Boost Asia and Middle East
a16z Rebrands Crypto Fund as a16z Frontier to Expand Its Investment Focus