news 
Semler Scientific Files for $500 Million Raise to Fuel Bitcoin Investment Strategy
Semler Scientific has made a significant move by filing a new S-3 registration with the SEC, indicating plans to raise up to $500 million. This massive influx of capital will be used to fuel the company’s Bitcoin investment strategy.
The funds will be utilized through a variety of securities, including common stock, debt, and warrants. While the primary purpose of this raise is for general corporate purposes, it is clear that a substantial portion will be allocated towards acquiring more Bitcoin.
Semler Scientific has already demonstrated its commitment to crypto by accumulating a significant amount of Bitcoin in the past. In February, they added 871 BTC for $88.5 million, paying an average price of over $101,000 per coin. A separate $30 million purchase took place last year. Despite Bitcoin’s recent dip below $99,000, it appears that Semler is unwavering in its long-term cryptocurrency strategy.
The company’s CEO, Eric Semler, expressed his enthusiasm for further expanding the firm’s Bitcoin holdings on Twitter. “We have reached a settlement in principle, EXCITED TO BUY MORE BTC!,” he tweeted yesterday evening.
Semler Scientific’s shift towards a Bitcoin treasury strategy is more than just an investment approach; it’s also part of a larger turnaround narrative. The company was initially viewed as stagnant and struggling to grow its stock performance, but the adoption of this strategy has led to significant changes. With one of the largest Bitcoin holdings among publicly traded companies, Semler Scientific is redefining itself.
The company will not only rely on its Bitcoin reserves to fuel its growth but also navigate a major legal hurdle by reaching a tentative $29.75 million settlement with the Department of Justice related to allegations surrounding the marketing of QuantaFlo product. To satisfy this agreement, the firm plans to borrow from Coinbase and utilize its existing cash as collateral for part of the repayment.
As Semler Scientific continues to build its crypto portfolio and reorient its business model, it is betting that this high-risk strategy will eventually yield positive results. Despite the company’s stock falling 37% so far this year, it remains committed to its Bitcoin-centric approach.
Source: https://coinpedia.org/news/semler-scientific-files-for-500-million-raise-to-fuel-bitcoin-investment-strategy/
