Overview
- The all-stock deal will transfer Semler’s 5,048.1 BTC, bringing projected combined holdings to 12,797.9 BTC and placing Strive 11th among public corporate holders, according to the company.
- Strive disclosed a purchase of 123 BTC at an average price of $91,561, lifting its standalone treasury to 7,749.8 BTC ahead of closing.
- The board approved a 1-for-20 reverse stock split of Class A and Class B shares for the post-merger company, with timing to be announced.
- Shares fell sharply on the news, with ASST down roughly 12–17% intraday and SMLR off about 10–11%, according to market data reported by news outlets.
- Management targets, within 12 months of closing and subject to market conditions, monetizing Semler’s operating business and exploring retirement of a $100 million convertible note and a $20 million Coinbase-related loan using preferred equity rather than traditional debt.