Nasdaq-listed healthcare services company KindlyMD announced on Tuesday that it has filed a shelf registration statement with the U.S. Securities and Exchange Commission (SEC) to launch an at-the-market (ATM) equity offering program of up to $5 billion.
According to the company, the funds raised will be used for general corporate purposes, including an expansion of its bitcoin treasury holdings.
The ATM program will allow KindlyMD to issue and sell shares of its common stock over time through several sales agents, including TD Securities, Cantor Fitzgerald, and B. Riley Securities. The company noted that any stock sales will be made at current market prices on the Nasdaq exchange, with the amount and timing of offerings determined at its discretion.
By filing the shelf registration, KindlyMD gains the flexibility to raise capital gradually without needing to seek separate SEC approvals for each issuance.
Following the path set by Michael Saylor’s strategy, dozens of companies have now built corporate crypto treasuries. While the majority of these reserves remain concentrated in bitcoin and Ethereum, more firms are beginning to diversify into altcoins such as Solana, BNB, and XRP.
Shares of KindlyMD (NASDAQ: NAKA) fell 12% on Tuesday, closing at $8.07, according to Google Finance. In contrast, bitcoin gained 1.35% in the past 24 hours, trading at $111,089, data from The Block shows.
In a recent post on X, Michael Saylor stated that “Bitcoin is on sale,” sharing a graphic that showcased his company’s latest BTC purchases.
The comment reflects MicroStrategy’s long-standing approach of buying during market pullbacks, a tactic that has become a recognizable pattern.
Each time Saylor makes such a move, it draws heightened interest from Wall Street, signaling how closely traditional markets are now watching corporate bitcoin strategies.
