Semler Scientific's $75M Convertible Notes Offering to Boost Bitcoin Strategy

Semler Scientific, a medical technology company, plans to raise $75 million through a private offering of convertible senior notes to expand its Bitcoin strategy and support corporate initiatives. The notes, due in 2030, can be converted into cash or stock, with a $15 million option for initial purchasers. To mitigate stock dilution from note conversions, Semler will engage in capped call transactions. Despite a recent 99.3% $BTC yield, the announcement led to a 12.5% decline in Semler's stock, reflecting market concerns. The company holds 2,321 Bitcoins and reported an unrealized Bitcoin gain of $28.9 million. Additionally, Binance founder Changpeng Zhao confirmed the prospect of a US Strategic Bitcoin Reserve.