10:30 AM EDT, 06/20/2025 (MT Newswires) -- Kindly MD (NAKA) said Friday it closed an additional $51.5 million in Private Investment in Public Equity, or PIPE, financing ahead of its merger with Bitcoin-focused Nakamoto.

This brings the company's total PIPE funding to about $563 million, or $763 million including convertible notes, Kindly MD said.

The latest round, priced at $5 per share, consists of common stock and is fully committed, the company said.

Net proceeds would be used to build a Bitcoin treasury, as well as for working capital and general corporate purposes, Kindly MD said. The financing is expected to close concurrently with the merger, the company added.

Shares of Kindly MD dropped more than 7% in recent trading Friday.

Price: 12.93, Change: -1.01, Percent Change: -7.25