PANews reports on May 21st that, according to Cointelegraph, shareholders of healthcare service provider KindlyMD approved a merger with Bitcoin holding company Nakamoto Holdings. The latter was founded by Trump's crypto advisor David Bailey, focusing on building a Bitcoin ecosystem enterprise network. The merger is expected to be completed 20 days after both parties submit SEC information statements, with final closing scheduled for the third quarter of 2025.
Market reaction showed that KindlyMD (KDLY) stock rose 9% to $15.22 during regular trading on May 20th, with a further 4.8% increase after hours. The company's cumulative gain this year has reached 979%. According to merger terms disclosed on May 12th, the new entity will develop Bitcoin-native enterprises through equity and debt, and incorporate Bitcoin into its balance sheet.
Previously, on May 12th, David Bailey and his company Nakamoto raised $710 million and merged with KindlyMD to establish a Bitcoin treasury.
