Semler Scientific’s SMLR now available for options trading, more BTC purchases on the way

The medical device company Semler Scientific has recently introduced options trading for its stock, SMLR. The company’s stock options reportedly showed up on several brokerage accounts. Despite the continued speculation, Semler Scientific has not made any official announcement to confirm the news. 

The company aims to increase investors’ investment options through trading SMLR stock options. Semler Scientific chairman Eric Semler revealed in a December 5 press release that the company had requested options exchanges to approve trading options as it met the requirements. 

Options trading gives investors the right to buy or sell a stock before a given time at a specific price. A company’s shares must reach a price of between $3 and $5, record 500,000 to 1 million shares daily trading volume, and a project with a market cap of $75 million and above to be eligible for options trading. 

According to Nasdaq data, SMLR is trading at $74.41 at the time of writing. At the previous close, Semler Scientific’s market capitalization stood at $557 million. The data further indicated that the company’s average trading volume was slightly above $1 million. 

Semler Scientific shares have grown significantly this year

The company’s shares have soared this year after Semler Scientific adopted a Bitcoin reserve strategy in May. According to Google Finance data from May 28, the SMLR stock spiked by over 30%, reaching $30.38. The company’s shares have increased by over 39% since then.

Chairman Semler explained that its strategy and increased BTC purchases would create a store of value for the company. The chairman further argued that BTC would present a compelling investment among shareholders. 

The medical technology firm pointed out Bitcoin’s finite supply, which increases its scarcity. The chairman highlighted that the coin’s characteristics placed it at a vantage point as a hedge against inflation and a safe haven in case of global economic instability. Semler further mentioned that the company weighed other alternatives before settling on BTC as the right option.

Since then, Semler Scientific has accumulated 2084 BTC, with the latest purchase being on December 16. The company bought 211 BTC worth approximately $21.5 million at about $101,890 per BTC. According to Semler, the investment has attained a BTC Yield of 67% quarter-to-date and 92.8% since the adoption of the Bitcoin Treasury in May. 

The company’s Bitcoin strategy is similar to MicroStrategy, with some referring to Semler Scientific as “MicroStrategy II.” Other companies, including Mara Holdings and Riot Platforms, have also joined the BTC accumulation trend. 

Second prospectus supplement filing 

SMLR announced a $150M shelf offering when their MCAP was only $200M.. I think the next one will be >$500M and coming very soon

— THE BITCOIN PHARAOH (@thebtcpharaoh) December 17, 2024

The medical technology company filed for a second prospectus supplement with the U.S. Securities and Exchange Commission on December 16 to offer $50 million in shares to its at-the-market (ATM) program with Cantor. The company’s registration statement for the ATM program under the S-3 Shelf was in August. 

Semler also indicated in the filing that the ATM offering has generated $100 million from the sale of over 1.9 million shares of its common stock since the registration. The addition would push the amount under the ATM to $150 million. The company’s boost of funds under the ATM increases the amount Semler Scientific has dedicated toward more BTC purchases.

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