Shares of KindlyMD, a healthcare services company, took a hit following an announcement of a $5 billion at-the-market equity offering program. The proceeds will be used to expand the company’s Bitcoin holdings. KindlyMD recently merged with Nakamoto Holdings and implemented a Bitcoin treasury strategy, marking a shift for the company in the health care sector. 5 Billion USD is being raised through this offering to accumulate Bitcoin, cover working capital needs, facilitate acquisitions, make capital expenditures, and invest in various projects. David Bailey, KindlyMD’s chairman and CEO, highlighting this as a natural step following their recent merger and initial Bitcoin purchase of 5,744 BTC worth $679 million. The offering is officially filed with the US Securities and Exchange Commission. The funds will be used to support several corporate needs, including Bitcoin accumulation. David Bailey, Chairman and CEO, emphasized the importance of the stock offering as a critical tool for executing the company’s Bitcoin strategy. He also highlighted his commitment to transparency and governance, aiming to be world-class in these areas. Shares were traded through multiple sales agents like TD Securities and Cantor on exchanges like Nasdaq at prevailing market prices. Despite this recent dip in shares, KindlyMD’s stock has surged about 330% since early May when their Bitcoin strategy was made public, showing a 550% increase this year. The company’s shares (NAKA) dropped 12% on the day of the announcement and further declined 2.7% after-hours, closing at $7.85. The equity offering involves multiple sales agents including TD Securities and Cantor, with shares sold at prevailing market prices on exchanges like Nasdaq. The equity offering program has drawn mixed reactions in the stock market, with KindlyMD’s share price declining 12% during the trading day and further dipping 2.7% after-hours before closing at $7.85. Despite this recent dip, the company’s stock is up by 330% since early May when their Bitcoin strategy was revealed. A related story tells of Red Light Holland’s updated Bitcoin investment strategy. In a move to refine its approach, the Canadian psychedelic truffles company purchased 10,600 shares in the BlackRock iShares Bitcoin Trust ETF (IBIT), and is collaborating with an exchange to implement advanced algorithmic trading via Arch Public. Scott Melker, Red Light Holland’s lead crypto advisor and influencer, says the firm will take a balanced approach to their Bitcoin strategy by combining exposure to ETFs with sophisticated trading techniques.