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    Home»NFTs»NAKA Raises $200M, Sinks 11%
    NFTs

    NAKA Raises $200M, Sinks 11%

    Ethan CarterBy Ethan CarterAugust 18, 2025No Comments1 Min Read
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    NAKA Raises $200M, Sinks 11%
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    KindlyMD (NAKA), the Nasdaq-listed firm that’s recently merged with bitcoin

    treasury firm Nakamoto closed a $200 million convertible note offering late Friday.

    The convertible notes bear no interest in the first two year, then they carry a 6% annual rate starting in year three until maturity in 2028. The firm intends to use the funds to buy additional bitcoin.

    The financing, arranged with Yorkville Advisors’ YA II PN fund, was structured with some unusual terms, CoinDesk senior analyst James Van Straten noted.

    Yorkville can convert the debt into equity at an initial price of $2.80 per share, raising concerns of dilution if the lender opts to convert into stock. Nakamoto/KindlyMD also needs to put up twice the size of the principal in BTC as collateral, offering the lender a robust downside protection.

    NAKA shares were lower by 11.2% on Monday alongside news of the convertible capital raise and a weekend decline in the price of bitcoin. Other bitcoin treasury strategies were in the red as well, but the declines were more muted. Strategy (MSTR) and Semler Scientific (SMLR), for instance, were each down a bit more than 1%.

    Read more: Michael Saylor’s Strategy Added $51M of Bitcoin Last Week

    200M NAKA Raises Sinks
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    Ethan Carter

      Ethan is a seasoned cryptocurrency writer with extensive experience contributing to leading U.S.-based blockchain and fintech publications. His work blends in-depth market analysis with accessible explanations, making complex crypto topics understandable for a broad audience. Over the years, he has covered Bitcoin, Ethereum, DeFi, NFTs, and emerging blockchain trends, always with a focus on accuracy and insight. Ethan's articles have appeared on major crypto portals, where his expertise in market trends and investment strategies has earned him a loyal readership.

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