Nakamoto Snaps Up BTC Inc. and UTXO Management in All-Stock Deal

Nakamoto Inc.'s (NAKA) shares rose as much as 7.35% in overnight trade after announcing an all-stock acquisition of BTC Inc. and UTXO Management.

The deal, valued at approximately $107.3 million, will see Nakamoto issue 363.56 million shares to fund the purchase.

Nakamoto's Chairman and CEO David Bailey stated that acquiring BTC Inc. at a 70% discount was part of the company's vision 'since day one.'

Bailey also leads BTC Inc., placing him at the center of all three entities involved in the transaction, which qualifies as a related-party deal.