Publicly traded company Semler Scientific plans to issue $75 million in convertible bonds, with part of the funds earmarked for purchasing Bitcoin.

According to a report by PR Newswire on January 24, Deep Tide TechFlow has announced that medical technology company Semler Scientific (NASDAQ: SMLR) plans to issue $75 million of convertible preferred notes due in 2030 to qualified institutional investors, with a potential additional issuance of $15 million.

The company stated that the funds raised will be partially used to cover the costs of capped call options, with the remaining funds allocated for general corporate purposes including the purchase of Bitcoin. Semler Scientific is primarily engaged in the development of diagnostic equipment for cardiovascular diseases, and its flagship product, QuantaFlo, has received FDA certification. The company has adopted Bitcoin as its primary reserve asset.