Kindlymd (NAKA) announced a partnership with Number PHA to create a secured convertible debt facility of $ 250 million.
Through its subsidiary Nakomoto Holdings, Kindlymd will utilize Number of Phat’s expertise in the financing of digital asset to create new Finance Ministry of Finance for Bitcoin-focused companies, according to the announcement.
The non-binding deal outlines a five-year convertible note Issuing to Number, with revenue aimed at refinancing a former Bitcoin-secured credit line of $ 203 million from two primary loans and to increase Bitcoin Holdings.
In pending financing, Analpha will also extend a temporary Bitcoin-supported loan to friendly.
Friendlyhmd has 5,765 BTC, and its shares trade just over $ 1, which represents an approx. 95% fall from the high high reached in May.
