Nasdaq-listed medical device maker Semler Scientific has unveiled plans to raise up to $500 million through a new securities offering, signaling a deeper commitment to Bitcoin as part of its corporate treasury strategy.
According to a recent S-3 filing with the U.S. Securities and Exchange Commission (SEC), the company may issue a mix of common stock, preferred shares, debt securities, warrants, and units over time. Semler intends to use the funds for general corporate activities, with a notable portion earmarked for acquiring more Bitcoin.
The filing underscores the firm’s growing confidence in crypto, stating: “We view our assets as long term holdings and expect to continue to accumulate Bitcoin.” However, the company also clarified that there is no fixed target for how much Bitcoin it plans to hold, and any future purchases will be based on prevailing market conditions.
Since entering the Bitcoin market in May 2024, Semler has amassed 3,192 BTC—currently valued at around $315 million, according to Bitcoin Treasuries. To bolster its crypto strategy further, Semler has entered a master loan agreement with Coinbase, enabling it to borrow against its Bitcoin holdings.
In a separate filling, the firm revealed it has reached an agreement-in-principle with the U.S. Department of Justice to settle False Claims Act allegations. The proposed settlement would see Semler pay $29.75 fine in order to settle all claims tied to potential violations of a federal anti-fraud law related to its marketing of QuantaFlo, its flagship product.
Earlier this year, Semler expanded its crypto exposure. Between January 11 and February 3, 2025, the company acquired 871 BTC for $88.5 million, funded through proceeds from its senior convertible notes offering and a partial monetization of its investment in Monarch Medical Technologies. That purchase brought its total Bitcoin holdings to 3,192 BTC, then valued at approximately $280.4 million.
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