Nasdaq-listed KindlyMD plans to issue $5 billion in shares to expand its Bitcoin treasury business

KindlyMD, a Nasdaq-listed healthcare services company, announced on Tuesday that it has filed a shelf registration statement for an on-market offering of up to $5 billion worth of stock. The company said it plans to use the net proceeds for general corporate purposes, including expanding its Bitcoin treasury.

The company's press release stated that the plan allows the company to issue and sell up to $5 billion worth of common stock through various sales agents, including TD Securities, Cantor Fitzgerald and B. Riley Securities. (The Block)