The non‑binding letter of intent covers issuance of five‑year notes to Antalpha intended to provide long‑term financing for KindlyMD’s Nakamoto Holdings subsidiary, expand Nakamoto’s bitcoin reserves, and replace a prior $203 million bitcoin‑secured credit from Two Prime Lending Limited; Antalpha will provide an interim bitcoin‑backed loan pending completion of the convertible facility. KindlyMD’s chairman and CEO David Bailey said the partnership aims to build competitive, long‑term options with lower dilution risk for shareholders, while Antalpha’s Dr. Derar Islim emphasized the firm’s role in bridging traditional financing and bitcoin‑native needs and signaled plans to develop additional solutions for treasury companies at scale.

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