KindlyMD merges with Nakamoto Holdings, driving the company's stock price up 650% in pre-market trading

ChainCatcher news, according to CoinDesk, David Bailey's Bitcoin-native holding company Nakamoto Holdings announced it will merge with medical data company KindlyMD (NASDAQ: KDLY) to form a publicly traded Bitcoin treasury company and complete a $710 million financing, including a $510 million PIPE and $200 million in convertible debt. This transaction marks the largest Bitcoin treasury startup financing to date.

Driven by the news, KDLY's pre-market stock price surged 650%, rising from $3.90 to $29.