Kindly MD (NAKA) Company Report

KindlyMD, Inc. announced its Q3 2025 operational and financial results following its merger with Nakamoto, establishing Nakamoto as a wholly owned subsidiary and advancing its Bitcoin treasury strategy.
For the third quarter of 2025, the company reported total revenue of $0.4 million and a net loss of $86.0 million, or $(0.42) per diluted share. This compares to total revenue of $0.6 million, a net loss of $1.0 million, and $(0.17) per diluted share in Q3 2024.
As of September 30, 2025, KindlyMD had purchased a cumulative 5,765 Bitcoin at a weighted average price of $118,204.88 per Bitcoin for approximately $681 million, holding 5,398 Bitcoin as of November 12, 2025. The company also made strategic investments, including $15 million in Treasury BV and $30 million in Metaplanet Inc. during the quarter.

Nov 19, 2025, 10:04 PM

KindlyMD Announces Strategic Partnership with Antalpha and Intent for $250 Million Convertible Debt Facility

NAKA

Debt Issuance

New Projects/Investments

Convertible Preferred Issuance

KindlyMD, Inc. (NAKA) announced a strategic partnership with Antalpha to develop innovative financing tools for the Bitcoin market and accelerate Bitcoin adoption.
The partnership includes a non-binding letter of intent for KindlyMD's subsidiary, Nakamoto, to issue 5-year $250 million secured convertible notes to Antalpha.
The financing from the convertible notes is intended for long-term funding, expanding Bitcoin holdings in the Nakamoto Bitcoin Treasury, and replacing a prior $203 million Bitcoin-secured credit from Two Prime Lending Limited.
An interim Bitcoin-backed loan of 206,000,000 USDT at 7.0% per annum was established on October 6, 2025, maturing in thirty days with an optional 30-day extension, to bridge until the convertible debt facility is completed.

Oct 7, 2025, 11:48 AM

Kindly MD, Inc. Secures Credit Facility and Redeems Convertible Note

NAKA

Debt Issuance

Convertible Preferred Issuance

Kindly MD, Inc., through its subsidiary Naka SPV 2, LLC, secured a $203,017,500 term loan facility from Two Prime Lending Limited on September 30, 2025.
This loan bears an interest rate of 8.5% per annum and matures on September 30, 2026.
The obligations under the loan are secured by Bitcoin or other digital assets.
The proceeds from this financing were primarily used to fully repay a $200 million convertible debenture, plus 1.5% interest, with YA II PN, Ltd. (Yorkville Advisors). The total cash payment for this repayment, including principal, interest, redemption premiums, and fees, amounted to $203,017,500, and was completed on September 30, 2025.

Oct 3, 2025, 9:15 PM

Kindly MD, Inc. Files S3 for PIPE Shares and Outlines Bitcoin Strategy

NAKA

New Projects/Investments

Guidance Update

M&A

Kindly MD, Inc. (NAKA) filed a Form S3 on September 12, 2025, to register shares sold in its PIPE fundraising, anticipating increased share price volatility as these shares enter the market.
The company's core mission is to build the defining Bitcoin-native financial institution, believing in Bitcoin's long-term strength and its inevitable growth trajectory through public markets.
Since the inception of its Bitcoin strategy, Kindly MD has raised $742 million and established a 5,700+ BTC treasury.
The company has also launched a $5 billion ATM program and made strategic investments, including a $30 million investment into Metaplanet.

Sep 15, 2025, 9:49 PM

Get instant answers from SEC filings, earnings calls & more