KindlyMD shares skyrocket 250% after merger with Trump crypto advisor David Bailey's bitcoin investment company

Shares of KindlyMD skyrocketed 250% Monday after the healthcare company announced a merger with Nakamoto Holdings, a bitcoin investment company founded by David Bailey, a key cryptocurrency advisor to President Donald Trump. The newly formed company has secured $200 million in convertible debt and $510 million in fresh capital through a private investment in public equity (PIPE) deal, offering shares at $1.12 each. According to Bailey, the convertible note carries a premium to the PIPE price, with investors buying shares at $1.12, but the notes will convert at $2.80. He added that the notes are zero-coupon for the first two years. Since news of the fund broke on Wednesday, the project has attracted hundreds of millions of dollars in additional commitments, Bailey said. "I've been raising about $100 million a day," Bailey told CNBC. "Yesterday, I raised almost $200 million." The raise drew support from more than 200 investors, including Actai Ventures, Arrington Capital, BSQ Capita ... Read full article.