Strive Acquiring Semler Scientific, Turbocharging Bitcoin Treasury Dominance

CN
4 hours ago

Strive Inc., a publicly traded asset management bitcoin treasury company, announced on Sept. 22 that it will acquire Semler Scientific Inc. in an all-stock deal valued at approximately $90.52 per share, reflecting a 210% premium to Semler’s Sept. 19 closing price. Each Semler share will convert into 21.05 Strive Class A shares.

In the same disclosure, Strive further stated: “Strive announced the purchase of 5,816 bitcoin to its corporate treasury at an average price of $116,047 per bitcoin, for a total purchase price of $675,000,000, inclusive of fees and expenses, bringing Strive’s total bitcoin holdings to 5,886.” The merger significantly expands the combined entity’s bitcoin exposure, cementing its position as one of the largest corporate holders of the asset. Management emphasized balance sheet strength, noting:

The combined company would own over 10,900 bitcoin prior to any additional bitcoin raised from future financings, in addition to sufficient cash held in reserve to support future perpetual preferred offerings.

In parallel, the company intends to review options for Semler’s established diagnostics business, which could evolve into a broader preventative care platform. Semler develops medical devices and software, including the FDA-cleared Quantaflo test, which aids in diagnosing peripheral arterial disease and monitoring chronic conditions.

Leadership continuity will see Strive’s current management team and board of directors remain in place, with Semler Scientific Executive Chairman Eric Semler joining the combined board. Strive Chairman and CEO Matt Cole highlighted the deal’s significance:

This merger cements Strive’s position as a top bitcoin treasury company, and we believe our alpha-seeking strategies and capital structure position us to outperform bitcoin over the long run.

“This transaction showcases how we can grow bitcoin holdings and bitcoin per share at an unmatched pace in the industry to drive equity value accretion,” the executive added. Proponents view the merger as offering investors both long-term digital asset exposure and potential growth in healthcare innovation. Last week, Strive announced the acquisition of MSTR True North Inc. in a de minimis cash transaction.

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