Strive and Semler Join Forces in Bold Bitcoin Merger

Strive and Semler merge, creating a bitcoin treasury leader with 10,900+ BTC, using equity financing to revolutionize corporate bitcoin strategies.

A bold new chapter is unfolding in the corporate bitcoin world. Strive, co-founded by Vivek Ramaswamy, has agreed to merge with Semler Scientific. Full stock purchase combines two of the most aggressive corporate buyers of bitcoin. Both Boards voted to approve the move, pending closing conditions. The transaction aims to entrust Strive’s position as a bitcoin treasury management leader and provide Semler stockholders with a solid premium.

Strive-Semler Merger to Create Bitcoin Firm with Over 10,900 BTC Treasury

According to the joint release, the deal is valued at 210% of Semler shares. Each Semler share will be exchanged for 21.05 Strive Class A shares. This comes to approximately $90.52 per share on September 19 closing prices. The merged entity would hold more than 10,900 bitcoin prior to the addition of new assets from future issuance. It will also have adequate cash reserves to support preferred equity financing without incurring traditional debt.

The unique nature of the deal was emphasized by management of both companies. Strive will continue to be led by its current board and executive management. However, Eric Semler, the executive chairman of Semler Scientific, will join the new board. Together, the combined companies will consider opportunities for Semler’s profitable diagnostics business. This could be to sell it or distribute it, while still investing in the growth of preventative diagnostics.

Strive’s CEO, Matt Cole, said the merger is a show of strength. He discussed how the strategy enables the firm to grow Bitcoin on a per-share basis more quickly than their competitors. Further, he noted that leveraged bitcoin companies had to deal with debt maturity but only preferred equity was used. He went on to say the merger solidifies Strive as a leading bitcoin treasury firm with sustainability in the long run.

Eric Semler also expressed his congratulations for the agreement. He mentioned that the premium provides decent value to Semler investors and provides them with direct exposure to one of the most sophisticated bitcoin strategies available in the public market. In addition, he added that there will be a growth of the medical diagnostics side into a new wellness platform. The platform will have an emphasis on prevention and early identification of chronic disease.

Strive and Semler Set to Revolutionize Bitcoin Reserve Strategies

The structure of this deal is unique in the world of bitcoin treasury, according to experts. The majority of companies use excessive amounts of debt to grow. In turbulent markets, Strive’s use of equity-based funding only may be less risky. At the same time, its balance sheet is bolstered by the holding of more than 10,900 bitcoin. Traders can view this as an inflation hedge for macro market movements.

Both boards have unanimously approved the transaction. It is now pending the final closing conditions before it becomes effective. Advisors to the deal include Strive’s Davis Polk & Wardwell and Semler’s Goodwin Procter. Strive had Cantor Fitzgerald as its financial advisor, and Semler had LionTree. The closed merger could end up being one of the most audacious moves in company bitcoin history.

If the market trend continues, this union could potentially revolutionize the way companies form and protect their bitcoin reserves. By pushing their two powerful brands together, Strive and Semler are looking to be leaders in both financial innovation and preventative healthcare.