16.04.2025 10:51
The health technology company Semler Scientific (SMLR), listed on Nasdaq, has submitted a $500 million securities offering to the U.S. Securities and Exchange Commission (SEC) to finance the purchase of Bitcoin. The company also announced that it has reached a $29.75 million settlement to resolve allegations of violations of the False Claims Act with the Department of Justice.
In its S-3 filing, Semler Scientific stated that the company plans to offer and sell securities with a total value of up to $500 million in one or more offerings. These securities may include the company's debt securities, common stock, units, and warrants. Semler aims to use the proceeds primarily for general corporate purposes, including the acquisition of Bitcoin. These developments demonstrate the company's commitment to its corporate Bitcoin strategy.
Semler Scientific to Increase Bitcoin Purchases Following U.S. Department of Justice Settlement
Since adopting its Bitcoin strategy in May 2024, Semler Scientific has accumulated a significant amount of crypto assets. The company currently holds approximately 3,192 BTC valued at around $266 million. Semler's latest Bitcoin purchase consisted of 871 BTC acquired at an average price of $101,616 per Bitcoin between January 11 and February 3.
The company reported that it purchased a total of Bitcoin reserves for $280.4 million at an average purchase price of $87,854 per Bitcoin. According to today's Bitcoin market price, the company's Bitcoin assets show an unrealized loss of approximately $14 million.
Semler stated in the filing, "We view our Bitcoin assets as long-term investments and expect to continue accumulating Bitcoin." He added, "We have not set a specific target for the amount of Bitcoin we aim to hold and will continue to monitor market conditions when deciding whether to make additional Bitcoin purchases."
Meanwhile, a separate 8-K filing from Semler disclosed that the company has agreed to pay $29.75 million to the U.S. Department of Justice. This settlement will resolve allegations related to violations of the False Claims Act (FCA) in marketing tests of certain devices. The company has entered into a master credit agreement with the cryptocurrency exchange Coinbase. This agreement allows the company to borrow cash and crypto assets using its Bitcoin holdings as collateral.
The company's founder and president, Eric Semler, stated on the X platform, "We have reached a principle agreement, and we are excited to acquire more BTC!" According to Google Finance data, the company's shares closed at $34.4 on Tuesday, up 0.41%.