Business
KindlyMD Announces Strategic Partnership with Antalpha and Intent to Establish $250 Million Convertible Debt Facility
First Step in Broader Effort to Develop Innovative Financing Tools for the Bitcoin MarketCollaboration Launches Initial Treasury Financing Structure SALT LAKE
About this update from Antalpha Platform Holding Company
[{"type":"text","content":"First Step in Broader Effort to Develop Innovative Financing Tools for the Bitcoin MarketCollaboration Launches Initial Treasury Financing Structure SALT LAKE CITY, UTAH / ACCESS Newswire / October 7, 2025 / KindlyMD, Inc. (NASDAQ:NAKA) (\"KindlyMD\" or \"the Company\"), a provider of integrated healthcare services and a Bitcoin treasury vehicle through its subsidiary Nakamoto Holdings (\"Nakamoto\"), today announced a strategic partnership with Antalpha (NASDAQ:ANTA) , a fintech company specializing in financing, technology and risk management solutions for the digital asset industry.As a leader in Bitcoin mining supply chain financial services, Antalpha is extending its expertise beyond mining to serve companies managing Bitcoin as a treasury reserve asset. In partnering with Nakamoto, the two firms aim to create financing structures tailored to the needs of treasury-focused organizations and to help accelerate Bitcoin's adoption among public companies.\"This partnership represents the power of Bitcoin companies backing Bitcoin companies,\" said David Bailey, Chairman and CEO of KindlyMD. \"It's meaningful to work with a longstanding, mission-aligned Bitcoin company to create financial solutions for Nakamoto and the wider industry. Together with Antalpha, we are not only addressing today's financing needs but also laying the foundation for future structures tailored to the unique requirements of Bitcoin treasury companies. This is the first step in what we expect will be a long series of initiatives to benefit our portfolio, our shareholders, and the Bitcoin ecosystem at large.\"\"As a Bitcoin-native company and market leader with an unmatched reputation for exceptional client services, Antalpha is the ideal partner for creating competitive, long-term financing options that understand Bitcoin's intrinsic properties as a treasury reserve asset,\" said Mr. Bailey.Additionally, as part of the strategic partnership, Antalpha and Nakamoto have signed a non-binding letter of intent regarding the issuance by Nakamoto of new 5-year $250 million secured convertible notes to Antalpha. The purpose of the convertible notes is intended to provide long-term financing for KindlyMD with less dilution risk to its stockholders compared to standard convertible debt, expand Bitcoin holdings in the Nakamoto Bitcoin Treasury, in addition to general...