Semler Scientific Secures $150 Million to Push Bitcoin Treasury Over $1 Billion

• Semler Scientific raises $150 million in an offering of convertible senior notes with institutional investors.
• The company will use the funding to grow its bitcoin treasury above $1 billion.

On August 7, 2024, a GlobeNewswire press release reported that Semler Scientific, Inc. (Nasdaq: SMLR) secured $150 million in funding. The company raised the capital from a group of institutional investors through an offering of convertible senior notes due 2029 and will use the funds to expand its bitcoin treasury.

Upon full deployment of the proceeds, Semler Scientific expects its bitcoin treasury to surpass $1 billion in value, a move that will solidify its position as one of the largest publicly traded holders of bitcoin. The company expects the offering to close on or about August 12, 2024.

To date, Semler Scientific has accumulated 828 bitcoin, valued at approximately $58.8 million as of August 6, 2024. The company actively purchases bitcoin, demonstrating its commitment to aggressively scaling its crypto treasury.

This initiative is spearheaded by Semler Scientific Chairman Eric Semler and CEO Doug Murphy-Chutorian, M.D. For the offering, Cantor Fitzgerald & Co. acts as the placement agent.

The transaction has garnered significant interest from institutional investors, reflecting strong confidence in Semler Scientific’s treasury strategy and the long-term value of bitcoin. In addition, industry analysts see this move as part of a broader trend of institutional adoption of cryptocurrency assets.

According to market data from August 7, 2024, at 15:17 UTC, Bitcoin (BTC) was trading at $71,118.80, and its 24-hour trading volume was down 25.3%.