Chiara Bianchi
Semler Scientific (Nasdaq: SMLR), a healthcare technology firm, has submitted a registration statement to the U.S. Securities and Exchange Commission (SEC) for a $500 million mixed securities offering, signaling a continued commitment to growing its Bitcoin (BTC) reserves.
The Form S-3, filed on Tuesday, outlines the companyโs intention to issue a range of securities โ including common stock, debt securities, warrants, and units โ through one or more offerings. While the allocation of the proceeds remains flexible, a key portion is expected to be directed toward additional Bitcoin purchases, among other corporate needs.
โBitcoin remains a long-term strategic asset for us,โ the company stated in the filing. โWe plan to monitor market conditions closely and will consider further acquisitions over time without setting a fixed target.โ
Bitcoin Holdings Reach $266 Million Despite Unrealized Loss
Since embracing a Bitcoin treasury approach in May 2024, Semler has accumulated a total of 3,192 BTC, representing an investment of $280.4 million at an average acquisition price of $87,854 per Bitcoin.
As of the latest data, the current value of the firmโs Bitcoin position is estimated at around $266 million, reflecting an unrealized loss of approximately $14 million due to market fluctuations.
Semler’s most recent purchase โ 871 BTC between January 11 and February 3 โ was made at an average price of $101,616 per BTC.
Semler Navigates DOJ Settlement Over False Claims Allegations
In a separate 8-K filing, Semler disclosed a tentative agreement with the U.S. Department of Justice (DOJ) to settle claims related to alleged violations of the False Claims Act (FCA). The proposed resolution involves a payment of $29.75 million.
The claims stem from the companyโs marketing practices of photoplethysmography devices used in Medicare-related testing. The DOJ launched a civil investigation in 2017, which now appears close to resolution โ although Semler noted thereโs โno guaranteeโ of a finalized agreement.
Company founder and chairman Eric Semler confirmed the development on X (formerly Twitter), writing, โWe have reached a settlement in principle, excited to buy more BTC!โ
Coinbase Loan Agreement Could Help Fund DOJ Settlement
As part of its strategic liquidity planning, Semler has also entered a master loan agreement with Coinbase, allowing it to borrow against its Bitcoin holdings. The firm indicated that, should the DOJ settlement move forward, it may utilize the Coinbase credit line โ along with available cash โ to cover the payment.
According to Google Finance, Semlerโs stock closed slightly up on Tuesday at $34.40, marking a 0.41% daily increase.
