Semler Scientific, Inc. (NASDAQ:SMLR), a pioneer in developing and marketing technology products and services to healthcare providers to combat chronic diseases, today announced updates regarding its bitcoin activity and holdings, capital markets activity, and BTC yield, a key performance indicator that it recently adopted.
BTC Update
Semler Scientific announced that, during the period between November 6, 2024 and November 15, 2024, it acquired 215 bitcoins for $17.7 million in cash, at an average price of $82,502 per bitcoin, inclusive of fees and expenses.
As of November 15, 2024, Semler Scientific held an aggregate of 1,273 bitcoins, which were acquired at an aggregate purchase price of $88.7 million and an average purchase price of $69,682 per bitcoin, inclusive of fees and expenses.
ATM Update
As previously disclosed in Semler Scientific's registration statement on Form S-3 that became effective on August 13, 2024, Semler Scientific entered into a Controlled Equity Offeringsm Sales Agreement (the Sales Agreement) with Cantor Fitzgerald & Co., pursuant to which Semler Scientific may issue and sell from time to time up to $50.0 million of its common stock in an at-the-market (ATM) offering. Since the effective date of the S-3 and as of November 15, 2024, Semler Scientific had sold an aggregate of 505,544 shares under the Sales Agreement for aggregate net proceeds (less sales commissions) of $21.5 million.
BTC Yield as a Key Performance Indicator (KPI)
From October 1, 2024 to November 15, 2024, Semler Scientific's BTC Yield was 18.9%. From July 1, 2024 (the quarter after Semler Scientific adopted its bitcoin treasury strategy) to November 15, 2024, Semler Scientific's BTC Yield was 37.3%.
Semler Scientific uses BTC Yield as a KPI to help assess the performance of its strategy of acquiring bitcoin in a manner Semler Scientific believes is accretive to stockholders. Semler Scientific believes this KPI can be used to supplement an investor's understanding of Semler Scientific's decision to fund the purchase of bitcoin by issuing additional shares of its common stock.
