Semler Scientific (SMLR) Buys $17M Bitcoin, Plans $150M Raise, Shares Up 1.7% Pre-Market

Jun 7, 2024, 10:26 AM

Semler Scientific (SMLR), a medical device manufacturer, has purchased $17 million worth of Bitcoin, acquiring 248 BTC. The company plans to raise an additional $150 million to further increase its Bitcoin holdings. This move is part of a broader strategy similar to that of MicroStrategy, led by Michael Saylor. Semler's total Bitcoin holdings have increased by 42% to 828 BTC. The company has announced a $200 million shelf offering, comprising $150 million in debt and $50 million in equity, which could potentially allow them to acquire up to 2,900 additional BTC, totaling up to $260 million worth of Bitcoin. SMLR shares are up 1.7% pre-market.