Semler Scientific (SMLR) has borrowed $20 million in cash under its April 15 master loan agreement with Coinbase Credit, pledging bitcoin as collateral. Semler intends to use the funds, alongside operating cash, to satisfy its $29.75 million False Claims Act settlement with the U.S. government.
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The loan carries a 10% annual interest rate and is secured by a first-priority security interest in Semler’s bitcoin, with an initial margin requirement of 156.25%. If the value of the collateral falls below the margin threshold, Semler must post additional bitcoin or eligible assets to Coinbase. The loan matures on March 26, 2026, and early repayment triggers a fee equal to all remaining interest through maturity.
Earlier this week, Strive (NASDAQ: ASST) announced that it would acquire Semler in an all-stock deal exchanging 21.05 Strive Class A shares for each Semler common share.
Read More: Strive to acquire Semler Scientific at 210% premium, adds 5,816 Bitcoin
At time of publication, SMLR is down 0.7% during pre-market hours.
