Overview
- The approved transaction transfers 5,048.1 BTC from Semler to Strive, which would take the combined treasury to 12,797.9 BTC and rank the company 11th among public corporate holders, according to Strive.
- Investors pushed both stocks lower on the announcement, with Strive and Semler each falling by double-digit percentages.
- Ahead of closing, Strive bought 123 BTC at an average price of $91,561, bringing its standalone holdings to 7,749.8 BTC.
- The board authorized a 1-for-20 reverse stock split of both share classes, and Semler Executive Chairman Eric Semler is set to join the board after the deal closes.
- Strive plans within 12 months to monetize Semler’s healthcare business and is exploring retiring a $100 million convertible note and a $20 million Coinbase loan, subject to market conditions.