Semler Scientific Unveils $75M Convertible Notes Offering To Boost Bitcoin Purchases
- Semler Scientific plans to offer $75 million in convertible senior notes due 2030.
- The funds raised will limit stock dilution and boost Bitcoin acquisitions.
- Since adopting its Bitcoin treasury strategy in May 2024, Semler has achieved a 99.3% yield on its Bitcoin investments.
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Semler Launches Notes Offering
Semler Scientific announced plans to offer $75 million in convertible senior notes due 2030, with an option for purchasers to buy an additional $15 million.
The private offering will issue senior unsecured notes accruing semiannual interest. Upon conversion, Semler may deliver cash, stock or a combination.
Proceeds will fund capped call transactions to offset stock dilution from conversions and general corporate purposes, including acquiring Bitcoin.
The capped call transactions aim to limit dilution by covering shares underlying the notes, subject to a cap.
The company noted that market transactions by counterparties to establish or adjust hedges could impact Semler’s stock price.
Latest BTC Purchase
Semler Scientific last increased its Bitcoin holdings 10 days ago, purchasing 237 BTC for approximately $23.3 million at an average price of $98,267 per Bitcoin.
Since adopting its Bitcoin treasury strategy in May 2024, the company has achieved an impressive 99.3% yield on its BTC investments .
Currently, Semler holds 2,321 BTC, representing a total investment of around $191.9 million, with an average acquisition cost of $82,687 per Bitcoin.
With a market capitalization of $586.9 million , Semler’s Bitcoin holdings now account for nearly half of the company’s total value.
