Kindly MD (NAKA) said Tuesday it purchased 21 bitcoins worth $2.3 million at an average price of $109,027 per token.

The company said it completed the purchase using proceeds from the exercise of its outstanding warrants, which resulted in the issuance of 1.4 million common shares.

The Bitcoin transaction aligns with the company's bitcoin treasury strategy through its proposed merger with Nakamoto Holdings, according to a statement.

Shares were down more than 5% in recent trading.

Price: 21.32, Change: -1.33, Percent Change: -5.85