Strive, the bitcoin-treasury firm co-founded by Vivek Ramaswamy, announced Monday it will acquire Semler Scientific (SMLR) in an all-stock transaction valued at $1.34 billion, expanding its cryptocurrency reserves. The deal follows Strive’s merger with Asset Entities earlier this year as part of its plan to list on Nasdaq and pursue a bitcoin-focused treasury strategy.
- Semler shareholders will receive 21.04 Strive Class A common shares per Semler share, valuing Semler at $90.52 per share — a 210% premium to Friday’s close.
- Semler shares rose 8.3% in early trading, while Strive fell 8% following the announcement.
- Strive will also purchase 5,816 bitcoin for $675 million, bringing the combined company’s holdings to more than 10,900 bitcoin.
- Future bitcoin acquisitions will be funded using a “preferred equity only” model, according to the company.
- Semler operates a healthcare business offering point-of-care vascular tests in addition to its bitcoin treasury strategy.
- Cantor Fitzgerald advised Strive on the deal, while LionTree Advisors advised Semler.
Relevant Companies
- Semler Scientific (SMLR) — Shares surged on news of the $1.34 billion acquisition.
- Strive (ASST) — Expanding bitcoin holdings significantly through the acquisition.
Editor’s Note: This is a developing story. This article may be updated as more details become available.
