Strive Buys Semler Scientific at 210% Premium, Adding 5,000 Bitcoin to Treasury
Strive Asset Management (ASST) is set to acquire Semler Scientific (SMLR) in an all-stock deal valuing Semler at $90.52 per share, more than triple Friday’s closing price. The exchange ratio of 21.05 ASST shares per SMLR share underscores Strive’s aggressive push to consolidate bitcoin treasuries.
The move coincides with Strive’s purchase of 5,816 BTC for $675 million, lifting the combined company’s holdings to over 10,900 BTC. Eric Semler, executive chairman of SMLR, will take a board seat at the merged entity.
Crypto treasury firms have come under pressure in recent months, with Semler shares trading at a steep discount to the value of its bitcoin reserves. Investors effectively assigned negative value to its medical equipment business.
“This merger cements Strive’s position as a top Bitcoin treasury company,” said Strive CEO Matt Cole. “Our capital structure and strategies position us to outperform bitcoin over the long run.”
ASST advanced 9.3% to $4.71 in premarket trade, while SMLR closed Friday at $29.18.
