KindlyMD (NAKA) has partnered with Antalpha to establish a $250 million secured convertible debt facility, aiming to expand its bitcoin treasury and strengthen long-term balance sheet flexibility.
Through its subsidiary Nakomoto Holdings, KindlyMD will leverage Antalpha’s expertise in digital asset financing to create new treasury tools for bitcoin-focused companies.
The non-binding agreement outlines a five-year convertible note issuance to Antalpha, with proceeds intended to refinance a previous $203 million bitcoin-secured credit line from Two Prime Lending and to increase bitcoin holdings. In the interim, Antalpha will also provide a bitcoin-backed loan to KindlyMD pending the finalization of the facility.
Currently, KindlyMD holds 5,765 BTC. Its shares are trading just above $1, representing a roughly 95% decline from the all-time high reached in May.
