Semler Scientific files $500M offering to fuel Bitcoin purchases
Semler to buy more Bitcoin, possibly using BTC as collateral
Publicly traded medical device manufacturer Semler Scientific has filed a registration statement with the U.S. Securities and Exchange Commission (SEC) to offer up to $500 million in securities. Part of the proceeds will be used to buy more Bitcoin.
In its S-3 filing, the Nasdaq-listed healthcare firm said it may issue common stock, preferred stock, debt securities, warrants, and units over time. The company noted that the proceeds would be used “primarily for general corporate purposes, including the acquisition of Bitcoin.”
Semler to buy more Bitcoin, possibly using BTC as collateral
Semler also revealed its intention to double down on its Bitcoin strategy, stating that it views Bitcoin as a “long-term asset” and plans to continue accumulating BTC. However, it has not specified a target number of Bitcoins to hold, instead choosing to monitor market conditions to determine the timing and volume of future purchases.
The company began acquiring Bitcoin in May 2024 and currently holds 3,192 BTC worth approximately $315 million, according to Bitcoin Treasuries.In addition, Semler has a credit agreement with Coinbase that allows it to borrow funds using its Bitcoin holdings as collateral.
In a separate announcement, Semler also stated it has reached a preliminary settlement agreement with the U.S. Department of Justice, agreeing to pay $29.75 million to resolve a dispute under the False Claims Act.
As we wrote, Healthcare technology company Semler Scientific has announced plans to raise $75 million to expand its Bitcoin holdings. This decision comes after the company reported an unrealized $29 million gain from its current Bitcoin investments.
