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KindlyMD completes $200 million convertible bond financing to increase its holdings of Bitcoin.
Golden Finance reported that Nasdaq-listed company KindlyMD (NAKA, merged with Bitcoin treasury company Nakamoto) completed a $200 million convertible bond financing last Friday, with the funds to be used for increasing its Bitcoin holdings. The financing was arranged by Yorkville Advisors, with terms requiring KindlyMD to pledge Bitcoin equivalent to twice the principal as collateral, and allowing creditors to convert to shares at an initial price of $2.8 per share.
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