Semler Scientific to Offer $75 Million in Convertible Senior Notes for Bitcoin Investments

Semler Scientific, a publicly traded medical device maker, announced plans to offer $75 million in convertible senior notes, with a portion of the funds set aside for purchasing Bitcoin.

Offering Details

The offering will be made to qualified institutional buyers under Rule 144A of the Securities Act. The notes, due in 2030, will earn interest every six months and can be converted into cash, shares, or both when the time comes. However, the interest rate and conversion terms will be finalized when the notes are priced.

Protecting Against Stock Dilution

As part of this offering, Semler Scientific will enter into “capped call transactions” to reduce the potential dilution of its stock. These transactions aim to minimize the impact of converting the notes, and more capped calls will be made if buyers decide to purchase additional notes.

Using Proceeds for Bitcoin Acquisition

The company intends to use some of the proceeds to cover the costs of these capped call transactions. The remaining funds will be allocated towards general corporate purposes, including the acquisition of Bitcoin.

Semler Scientific’s Bitcoin Holdings

According to available data, Semler Scientific currently owns 2,321 Bitcoin (BTC), valued at over $244 million, representing 0.011% of Bitcoin’s total supply. The company first announced its Bitcoin treasury plans in May 2024, and since then, its shares under the ticker SMLR have risen by more than 140%.

“This offering demonstrates Semler Scientific’s commitment to diversifying its investments and exploring opportunities in the cryptocurrency space.”

Tips for Cryptocurrency Investors:

  • Conduct thorough research before investing in any cryptocurrency or security.
  • Understand the risks and potential returns associated with Bitcoin investments.
  • Consider diversifying your investment portfolio to minimize risks.

Stay up-to-date with the latest news and developments in the cryptocurrency space by visiting Global Crypto News.

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