Asset Manager Strive has reached an agreement to buy Bitcoin-oriented Semler Scientific in a fully equity based on equity rather than on cash-based deal.
Under the conditions announced September 22, each Semler Scientific share will convert into 21.05 Strive Class A -ordinary shares, with which the goal is valued at $ 90.52 per share. That price represents a premium of more than 200% compared to its recent market value.
The merger outlines a two-track plan for the future company. Semler’s established diagnostic line can be directly linked or spun to achieve shareholders’ returns.
At the same time, Strive and Semler leaders are planning to broaden the scope of preventive diagnostics, with a new management team that leads the transition.
The current directors of Strive remain in force, while Semler Scientific Executive chairman Eric Semler will join the combined council.
Semler called the scheme a way to ‘guarantee direct participation in one of the most innovative Bitcoin strategies on public markets’, pointing to the possibility of developing the company’s diagnostic tools in a preventive care platform aimed at early detection of chronic illness.
Bitcoin Treasury
In addition to the announcement of the acquisition, Strive revealed an important balance movement of acquiring 5,816 Bitcoin at an average price of $ 116,047. This was a total of $ 675 million, including reimbursements.
This addition increased the treasury from Strive to 5,886 BTC. According to public data trackers, as soon as the merger is closed, the combined company is expected to check more than 10,900 BTC, holding a large enough to place it under the 15 largest business Bitcoin treasure skists worldwide.
Matt Cole, chairman and CEO of Strive, said:
“We believe that our alpha-seeking strategies and capital structure position us to surpass Bitcoin in the long term. This transaction shows how we can grow Bitcoin Holdings and Bitcoin per share at an unparalleled pace in the industry to stimulate an acquisition of equity.”
These transactions illustrate the desired positioning strategy of Strive as a digital operator from Treasury. Earlier this year, the company absorbed assets entities, which was converted under the strict name and continuing to act on Nasdaq.
At that time, managers described a model that is built on the exchange of equity for Bitcoin, an approach that they argue improves the tax efficiency and the acquisition of companies rich in cash but undervalued in stock markets.