KindlyMD ($NAKA) Board Announces Authorization of Share Repurchase Program

KindlyMD Inc., a healthcare firm with a Bitcoin treasury via its subsidiary Nakamoto Holdings, announced its board has authorized a share repurchase program. This allows management discretion to buy back stock when shares trade below the value of the company’s substantial bitcoin holdings. The buybacks can occur through various legal methods, including open-market purchases or private negotiations. Chairman and CEO David Bailey stated the program reflects confidence in the company's long-term value and enhances capital allocation flexibility. The authorization does not commit KindlyMD to any specific number of repurchases, with timing dependent on market conditions. This move follows a significant selloff in $NAKA stock after its merger with the bitcoin-native firm Nakamoto Holdings, with shares trading far below the implied value of its approximately 5,398 bitcoin holdings, which are worth about $1 billion against an enterprise value of $400 million.

(Source：Bitcoin Magazine)