Semler Scientific submitted the US Securities and Stock Exchange Committee (SEC) to issue $ 500 million of securities. This step follows the company’s announcement of a $ 30 million settlement with the Ministry of Justice. It is expected to use funds collected for different companies, including getting more bitcoin.
Semler settlement with doj
Semler Scientific reached an initial agreement with the Ministry of Justice, and an agreement to pay $ 29.75 million to settle claims related to marketing its main product, Quantaflo. The settlement addresses the accusations of possible violations of federal fraud laws.
Although the investigation of the Ministry of Justice began in 2017, only in recent months, Semler entered into discussions to solve this issue. The company stated that it had complied with many call notes over the years, which led to the current settlement negotiations.
There Tuesday file With the US Securities and Stock Exchange Committee (SEC), Semler revealed that the settlement agreement is not yet final. If the agreement is approved, the company plans to use a Coinbase loan, which was secured by Bitcoin Holdings, to finance the payment of $ 30 million. Semler’s current Bitcoin’s bitcoins reach 3,192 BTC, at a value of approximately $ 267 million.
Bitcoin as a guarantee of the loan from Coinbase
To finance the settlement, Semler Scientific has made a partnership with Coinbase, one of the largest encrypted currency exchanges.
According to the terms of the contract, the company will receive a cash loan and digital assets from it, supported by BTC.
The Coinbase -based loan will ensure that Semler gets a sufficient balance to facilitate the settlement without balance in other aspects of its operations.
Plan more BTC purchases
Not restricting itself to settle the Ministry of Justice 30 million dollars, Semler Scientific hinted to The intention of purchasing More bitcoin. To issue new securities, the S-3 has made a registration with SEC in an attempt to submit $ 500 million in securities.
The money collected from this sale will increase from the company’s bitcoin holdings, which it has identified as a plan to diversify the encrypted currency.
Semler’s intentions come to get more bitcoin simultaneously with the intention of other companies, such as the Michael Saylor strategy, which also accumulates encrypted currency. Recently, the strategy bought 3,459 Bitcoins for $ 285.8 million, and therefore, it now maintains 531,644 Bitcoins.
Likewise, Metaplanet bought $ 26.3 million in Bitcoins, indicating that the company is still optimistic about this market fluctuations. These purchases come in light of a possible reflection in the price of bitcoin, which some analysts, such as Titan of Crypto, come to reach $ 137,000.
Kelvin Monin Murithi
Kelvin is a distinguished writer who has experience in encryption and financing, holding a Bachelor’s degree in Actura Sciences. It is famous for its careful analysis and insightful content.
Responsibility: Is market research before investing in encrypted currencies? The author or post does not bear any responsibility for your personal financial loss.
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