Semler Scientific, a healthcare tech firm, has filed to raise up to $500 million through a new securities offering aimed primarily at increasing its Bitcoin holdings. The filing, submitted to the SEC, includes a shelf registration statement allowing the company to issue various securities over time. The funds will mainly be used for general corporate purposes and acquiring more Bitcoin. Recently, Semler converted part of its healthcare investment portfolio into Bitcoin, purchasing 871 BTC for $88.5 million and increasing its total Bitcoin holdings to 3,192 BTC. This strategic move comes as the company faces a $29.75 million tentative settlement with the U.S. Department of Justice related to marketing allegations regarding its QuantaFlo product. Additionally, Semler intends to borrow from Coinbase to facilitate this payment, leveraging its Bitcoin holdings as collateral. The firm's Bitcoin strategy is viewed as a way to improve its financial prospects after previously being labeled a stagnant company. Semler ranks 12th among public companies for Bitcoin holdings, seeing the asset as a reliable store of value amid market instability.

Source 🔗