"The all-stock deal will see Strive buying Semler shares at roughly $90.52 apiece, a more than 200% premium to its Friday closing price of $29.18. The two firms will together own nearly 11,000 Bitcoin after the merger, according to a press release on Monday. Strive will explore ways to "monetizing" or distributing Semler's "historically profitable diagnostics business at a future date," the announcement said."
"The deal comes after Strive this month completed its merger with Asset Entities Inc., a digital marketing company, to create a Bitcoin treasury. The Dallas-based firm said it intends to build a "Bitcoin war chest" with what it described as a long-term investment approach. "Strive's merger agreement to acquire Semler Scientific just one week after becoming a public company shows a level of speed and execution not seen before in the Bitcoin treasury space," said Matt Cole, Strive's chairman and chief executive officer."
"Prior to its Bitcoin-hoarding announcement, Strive had become known for its asset-management business-it runs a number of exchange-traded funds, including the $1 billion Strive 500 ETF (ticker STRV), which is focused on the largest U.S. stocks. Semler Scientific, a medical-device maker, last year became one of the first to adopt Bitcoin as its primary treasury reserve asset, following the approach pioneered by Michael Saylor's Strategy Inc. Semler reported a 43% year-over-year drop in second-quarter revenue."
Strive Inc. agreed to acquire Semler Scientific in an all-stock transaction that values Semler shares at roughly $90.52 apiece, a more than 200% premium to its recent close. The combined company will own nearly 11,000 Bitcoin after the merger. Strive plans to explore monetizing or distributing Semler's historically profitable diagnostics business at a future date. Strive recently merged with Asset Entities Inc. to create a Bitcoin treasury and intends to build a long-term "Bitcoin war chest." Strive operates exchange-traded funds including the $1 billion Strive 500 ETF. Semler adopted Bitcoin as its primary treasury reserve but reported a 43% year-over-year drop in second-quarter revenue.
Read at Fortune Crypto
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