KDLY surged 650% before trading, from $3.90 to $29

According to CoinDesk, Nakamoto Holdings, a native Bitcoin holding company founded by David Bailey, announced that it will merge with medical data company KindlyMD (NASDAQ: KDLY) to form a publicly traded Bitcoin treasury company and complete a $710 million financing, including $510 million in PIPE and $200 million in convertible bonds. This transaction marks the largest fundraising for a Bitcoin treasury to date. Driven by news, KDLY's pre-market stock price surged 650%, from $3.90 to $29.