Semler Scientific aims to raise $500 million through securities offerings to fund Bitcoin acquisitions. The SEC filing outlines plans to sell various securities, with proceeds primarily directed towards Bitcoin investments. The company has increased its Bitcoin holdings to 3,192 BTC and established a loan agreement with Coinbase, while settling a separate legal claim for $29.75 million.
Semler Scientific is intensifying its strategy to invest in Bitcoin by launching a $500 million securities offering and establishing a loan agreement with Coinbase. The company has submitted a registration statement to the U.S. Securities and Exchange Commission (SEC), indicating its plan to raise up to $500 million, intending to allocate part of the funds toward acquiring additional Bitcoin (BTC).
In its S-3 statement, the Nasdaq-listed medical device manufacturer expressed intentions to sell a variety of securities, including common stock, preferred stock, debt securities, warrants, and units. The proceeds are earmarked primarily for general corporate activities, particularly the acquisition of Bitcoin, as outlined in the filing.
Moreover, Semler has reaffirmed its long-term commitment to the cryptocurrency, stating that it views its Bitcoin holdings as long-term investments. Although the company has not specified a target for the quantity of Bitcoin it aims to possess, it will continually assess market conditions to guide its purchase decisions.
Since initiating Bitcoin purchases in May 2024, Semler now owns approximately 3,192 BTC, valued around $315 million, based on Bitcoin Treasuries data. Additionally, the firm announced a master loan agreement with Coinbase, enabling it to borrow funds against its Bitcoin holdings. Separately, Semler reported reaching a preliminary agreement with the Department of Justice to settle claims related to the False Claims Act for $29.75 million.
