Semler Scientific Announces Proposed Private Offering of $75.0 Million of Convertible Senior Notes

Semler Scientific Announces

Proposed Private Offering of $75.0 Million of Convertible Senior Notes

SANTA CLARA, CA - January 23, 2025 - Semler

Scientific, Inc. (Nasdaq: SMLR) today announced that it intends to offer, subject to market conditions and other factors, $75.0 million

aggregate principal amount of convertible senior notes due 2030 (the "notes") in a private offering (the "offering")

to persons reasonably believed to be qualified institutional buyers pursuant to Rule 144A under the Securities Act of 1933, as amended

(the "Securities Act"). Semler Scientific also intends to grant the initial purchasers of the notes an option to purchase,

during a 13-day period beginning on, and including, the first date on which the notes are issued, up to an additional $15.0 million principal

The notes will be senior unsecured obligations of Semler Scientific

and will accrue interest payable semiannually in arrears. Upon conversion, Semler Scientific will pay or deliver, as the case may be,

cash, shares of its common stock or a combination of cash and shares of its common stock, at its election. The interest rate, initial

conversion rate, repurchase or redemption rights and other terms of the notes will be determined at the time of pricing of the offering.

The offering is subject to market and other conditions, and there can be no assurance as to whether, when or on what terms the offering

Semler Scientific intends to use a portion of the net proceeds from

the offering to pay the cost of the capped call transactions described below and the remainder of the net proceeds for general corporate

purposes, including the acquisition of bitcoin.

In connection with the pricing of the notes, Semler Scientific expects

to enter into privately negotiated capped call transactions (the "capped call transactions") with one or more of the initial

purchasers or their respective affiliates and/or other financial institutions (the "option counterparties"). The capped call

transactions will cover, subject to customary adjustments, the number of shares of Semler Scientific's common stock that will initially

underlie the notes. The capped call transactions are expected to offset the potential dilution to Semler Scientific's common stock

as a result of any conversion of the notes, with such reduction subject to a cap. If the initial purchasers exercise their option to purchase

additional notes, Semler Scientific expects to enter into additional capped call transactions with the option counterparties.

In connection with establishing their initial hedges of the capped

call transactions, Semler Scientific expects that the option counterparties and/or their respective affiliates may enter into various

derivative transactions with respect to its common stock and/or purchase its common stock in secondary market transactions concurrently

with or shortly after the pricing of the notes, including with certain investors in the notes. This activity could increase (or reduce

the size of any decrease in) the market price of Semler Scientific's common stock or the notes at that time.

In addition, Semler Scientific expects that the option counterparties

and/or their respective affiliates may modify or unwind their hedge positions by entering into or unwinding various derivative transactions

and/or purchasing or selling Semler Scientific's common stock or other securities of Semler Scientific in secondary market transactions

following the pricing of the notes and prior to the maturity of the notes (and are likely to do so on each exercise date of the capped

call transactions, which are scheduled to occur during the observation period relating to any conversion of the notes on or after May 1,

2030 that is not in connection with a redemption, or following Semler Scientific's election to terminate any portion of the capped

call transactions in connection with any repurchase, redemption, exchange or early conversion of the notes). This activity could also

cause or avoid an increase or a decrease in the market price of Semler Scientific's common stock or the notes, which could affect

a noteholder's ability to convert its notes and, to the extent the activity occurs during any observation period related to a conversion

of notes, it could affect the amount and value of the consideration that a noteholder will receive upon conversion of its notes.

Neither the notes, nor the shares of Semler Scientific's common

stock issuable upon conversion of the notes, if any, have been registered under the Securities Act or any state securities laws, and unless

so registered, may not be offered or sold in the United States or to, or for the account or benefit of, U.S. persons, absent registration

or an applicable exemption from, or in a transaction not subject to, the registration requirements of the Securities Act and other applicable

This press release is neither an offer to sell nor a solicitation of

an offer to buy any securities, nor shall it constitute an offer, solicitation or sale of any securities in any state or jurisdiction

in which such offer, solicitation or sale would be unlawful prior to the registration or qualification under the securities laws of any

such state or jurisdiction.

About Semler Scientific

Semler Scientific, Inc. is a pioneer in developing and marketing

technology products and services to healthcare providers to combat chronic diseases. Its flagship product, QuantaFlo , which is patented

and cleared by the U.S. Food and Drug Administration (FDA), is a rapid point-of-care test that measures arterial blood flow in the extremities.

The QuantaFlo test aids in the diagnosis of cardiovascular diseases, such as peripheral arterial disease (PAD), and Semler Scientific

is seeking a new 510(k) clearance for expanded indications. QuantaFlo is used by healthcare providers to evaluate their patient's

risk of mortality and major adverse cardiovascular events (MACE). Semler Scientific also invests in Bitcoin and has adopted Bitcoin as

its primary treasury asset.

Forward-Looking Statements

This press release contains "forward-looking" statements.

Such statements can be identified by, among other things, the use of forward-looking language such as the words "believe,"

"goal," "may," "will," "intend," "expect," "anticipate," "estimate,"

"project," "would," "could" or words with similar meaning or the negatives of these terms or by the

discussion of strategy or intentions. The forward-looking statements in this release include express or implied statements about the proposed

terms of the notes and capped call transactions, the completion, timing and size of the proposed offering of the notes and capped call

transactions, the anticipated use of proceeds from the offering, the potential impact of the foregoing or related transactions on dilution

to holders of our common stock, the market price of our common stock or the notes or the conversion price of the notes. Such forward-looking

statements are subject to a number of risks and uncertainties that could cause Semler Scientific's actual results to differ materially

from those discussed here, including but not limited to whether we will consummate the offering of notes on the expected terms or at all,

which could differ or change based upon market conditions or for other reasons, and the other risk factors detailed in Semler Scientific's

filings with the Securities and Exchange Commission. These forward-looking statements involve assumptions, estimates, and uncertainties

that reflect current internal projections, expectations or beliefs. There can be no assurance that such statements will prove to be accurate,

and actual results and future events could differ materially from those anticipated in such statements. All forward-looking statements

contained in this press release are qualified in their entirety by these cautionary statements and the risk factors described above. Furthermore,

all such statements are made as of the date of this press release and Semler Scientific assumes no obligation to update or revise these

statements unless otherwise required by law.

Investor Relations Contact:

Chief Financial Officer