Semler Scientific (SMLR) Registration Filing summary

Company overview and business model

• Develops and markets technology products for chronic disease evaluation and treatment, with QuantaFlo as a flagship, FDA-cleared device for PAD diagnosis.

• Healthcare technology solutions generate cash flow, supporting a bitcoin treasury strategy adopted in May 2024.

• Actively seeking expanded FDA clearance for QuantaFlo and developing additional proprietary products.

• Accumulates bitcoin using excess operational cash and proceeds from capital markets transactions.

Financial performance and metrics

• As of March 31, 2025, held 3,192 bitcoins acquired for $280.4 million at an average price of $87,854 per bitcoin.

• Issued $100 million in 4.25% convertible senior notes due 2030 in January 2025, with net proceeds of $91 million after expenses.

• Stock price volatility noted, with a 2024–2025 range from $21.03 to $74.73 per share.

Use of proceeds and capital allocation

• Net proceeds from offerings will be used for general corporate purposes, including working capital, R&D, acquisitions, and bitcoin purchases.

• Management retains broad discretion over allocation, with a stated intent to use proceeds to acquire additional bitcoin.