Overview

• Through its Nakamoto Holdings unit, KindlyMD outlined a five-year secured convertible note facility with Antalpha totaling $250 million.
• Proceeds are earmarked to refinance a prior $203 million bitcoin-backed credit line from Two Prime Lending, fund corporate needs, and increase bitcoin holdings.
• The Two Prime facility will remain available, giving the company additional balance-sheet flexibility once the new financing is in place.
• Management describes the structure as longer-term funding with less dilution risk than standard convertible debt, subject to definitive agreements and regulatory processes.
• KindlyMD holds 5,765 BTC, ranking among the largest public bitcoin treasuries, as its shares trade just above $1 after a steep monthly decline.