KindlyMD (NAKA) has announced a partnership with Antalpha to establish a $250 million secured convertible debt facility aimed at expanding its bitcoin treasury and enhancing long-term balance sheet flexibility.
Through its subsidiary, Nakomoto Holdings, KindlyMD will leverage Antalpha’s expertise in digital asset financing to develop treasury solutions for bitcoin-focused companies.
The non-binding agreement outlines a five-year convertible note issuance to Antalpha. Proceeds from the facility are intended to refinance a prior $203 million bitcoin-secured credit line from Two Prime Lending and to increase KindlyMD’s bitcoin holdings. Pending finalization, Antalpha will also provide an interim bitcoin-backed loan.
KindlyMD currently holds 5,765 BTC, while its shares trade just above $1, representing a roughly 95% decline from the all-time high reached in May.
