Overview

• Semler shareholders are set to receive 21.05 Strive Class A shares per Semler share, valuing Semler at about $90.52 each for a roughly 210% premium and an estimated $1.34 billion deal.
• Strive disclosed the purchase of 5,816 BTC for approximately $675 million at an average price near $116,047 per coin, bringing its own treasury to 5,886 BTC.
• The combined company would control more than 10,900 BTC once the merger closes, placing it among the larger corporate bitcoin holders globally.
• Strive’s management and board will remain in place, and Semler’s executive chairman Eric Semler will join the board as the companies consider options for Semler’s diagnostics unit, including monetization or distribution.
• The boards approved the all-stock transaction, which remains subject to customary closing conditions, as Semler shares rose and Strive shares fell; Cantor Fitzgerald advised Strive and LionTree advised Semler.