Overview

• Semler shareholders will receive 21.05 Strive Class A shares per Semler share, a roughly 210% premium that values the target at about $1.3–$1.34 billion.
• Strive disclosed a purchase of 5,816 BTC for $675 million at an average of about $116,047 per coin, lifting the combined company’s holdings to more than 10,900 BTC post-close.
• The boards of both companies unanimously approved the merger, which remains subject to customary closing conditions including regulatory filings and shareholder approval.
• Strive says future Bitcoin accumulation will rely on a “preferred equity only” model designed to avoid debt-maturity risks, and it plans to explore monetizing or separating Semler’s profitable diagnostics business.
• Initial trading showed Strive shares down and Semler up, while analysts flagged a wide arbitrage spread and potential equity- and bitcoin-price volatility as key pre-close risks.