TLDR
- KindlyMD retires $200M debt via Bitcoin loan, boosts financial stability.
- Bitcoin-backed loan clears debt for KindlyMD, reduces equity dilution.
- KindlyMD simplifies equity by paying off $200M convertible note.
- Crypto-powered debt deal strengthens KindlyMD’s balance sheet.
- KindlyMD exits $200M note, aligns Bitcoin treasury with healthcare.
Kindly MD, Inc. (NAKA) closed at $1.1300 on October 3, reflecting a 2.7273% increase during regular trading hours. In after-hours trading, the stock rose slightly to $1.1400, up 0.8850%,
The company has secured a credit facility with Two Prime Lending Limited through its Bitcoin-centric subsidiary Nakamoto Holdings. The loan, totaling $203,017,500, was issued to Naka SPV 2, LLC and primarily aimed at debt redemption. This strategic move aimed to strengthen KindlyMD’s capital structure while minimizing the risk of equity dilution.
$200M Convertible Note Retired, Strengthening Capital Position
Proceeds from the new loan were used to redeem a $200 million convertible debenture previously held by YA II PN, Ltd. This debenture carried a 1.5% interest and had a $2.80 per share conversion price. The redemption notice was delivered on September 15, 2025, and payment was completed on September 30, 2025.
This repayment eliminated a potential dilution overhang, thereby simplifying KindlyMD’s equity base. It also enabled the firm to realign its financials without issuing new shares. By settling the debt, the company can now manage future liquidity with greater flexibility.
KindlyMD indicated that this refinancing enhances its balance sheet and better aligns its financing with its long-term strategy. The company emphasized that its partnership with Two Prime reflects alignment in vision and strategic treasury management. It expects the improved structure to support operational growth and strategic execution moving forward.
Bitcoin Strategy Continues to Influence Financial Approach
KindlyMD completed its merger with Nakamoto Holdings Inc. in August 2025, forming a dual-focused business model. The merger integrated a Bitcoin-native treasury strategy with a healthcare services provider. This model allows the company to pursue healthcare innovation while managing digital assets through a public Bitcoin treasury.
KindlyMD seeks to position Bitcoin as a core treasury asset amid evolving digital finance opportunities. The company aligns this approach with value-based care models and algorithmic guidance in alternative medicine. The refinancing deal with a crypto-native lender further cements this positioning.
Two Prime Lending specializes in secured, non-rehypothecated Bitcoin-backed loans for institutions. With over $3 billion in lending capacity, the firm provides corporate borrowers with efficient access to liquidity while maintaining custody control. This aligns with KindlyMD’s focus on capital efficiency and risk-managed asset allocation.
