Kenkenlymd, Inc. (Nasdaq: Naka) and Bitcoin-Native Holding Company Nakamoto Holdings Inc. has officially completed their long-expected merger, forming a listed Bitcoin state vehicle with ambitions to acquire a million BTC. The combined device works under the friendly name acting on the NASDAQ Capital Market, while Nakamoto will act as a wholly owned subsidiary that oversees Bitcoin Financial Services Division.
“Our vision is for the world’s capital markets to operate on a Bitcoin standard. Today’s merger represents the beginning of this journey for our company,” said David Bailey, CEO of the combined company. “Since I started my journey in Bitcoin 13 years ago, I have always thought that Bitcoin would be the most valuable active in human history contained by any person, business and government. Securitization of Bitcoin has shown us how institutions will adopt it. We intend to drive it forward.”
Tim Pickett, formerly friendly CEO and now Chief Medical Officer, added: “We are enthusiastic to officially close our merger with Nakamoto. We have built friendly on operational and innovative expertise, and we are now expanding the same principle to our capital strategy. Bitcoin gives us the opportunity to maintain value with the same integrity as we use.”
The transaction generated about $ 540 million in gross income through a private position in public equity (PIPE) financing, which will primarily be used for Bitcoin purchases. A Convertible Note offer of $ 200 million is expected to close tomorrow.
Bailey will lead as CEO and chairman with a strengthened leadership team, including Amanda Fabiano as COO, Tyler Evans as CIO and Andrew Creighton as CCO. Newly appointed independent directors include Charles Blackburn, Perianne Boring, Eric Weiss, Greg Xethalis and Mark Yusko together with Pickett.
The merged company’s mission is clear: Build a leading Bitcoin vehicle institutional quality to run the business and government admission of the asset. By utilizing advanced business financing strategies, Nakamoto aims to simplify Bitcoin integration to global capital markets and position themselves as a leader in the public market Bitcoin Treasury Management.
Bailey reinforced his commitment on X and said, “Army to officially participate in Kindlymd as CEO and President. Thank you for coming on this journey with me – together we will rebuild the world on the Bitcoin standard. A nakamoto = a million bitcoin.”
Disclosure: Nakamoto is partnership with Bitcoin Magazine’s parent company BTC Inc to build the first global network of Bitcoin Treasury companies where BTC Inc provides certain marketing services to Nakamoto. More information about this can be found here.