Overview

• Through its Nakamoto Holdings unit, KindlyMD signed a letter of intent to issue five-year, $250 million secured convertible notes to Antalpha, subject to definitive documentation and closing conditions.
• Antalpha will provide an interim bitcoin‑backed loan to bridge financing until the convertible facility is completed.
• The planned transaction is intended to replace a $203 million bitcoin‑secured credit line from Two Prime Lending, which the company says will remain available for future use.
• Management says additional proceeds are earmarked to increase bitcoin holdings in the corporate treasury and to fund general corporate purposes.
• KindlyMD lists 5,765 BTC in reserves as its stock trades just above $1 following a sharp monthlong decline.