Strive plans to acquire Bitcoin treasury firm Semler Scientific following $675 million BTC purchase

Strive (ASST) is set to acquire Semler Scientific (SMLR) in an all-stock transaction, raising its potential Bitcoin (BTC) holdings to over 10,900 BTC. The company also revealed it purchased 5,816 BTC for $675 million at an average price of $116,047 per token.

Strive set to acquire Semler Scientific following Bitcoin purchase

Bitcoin treasury firm Strive announced that it entered a definitive agreement to acquire Semler Scientific in an all-stock transaction, according to a statement on Monday.

The boards of both companies have approved the agreement, but it remains subject to customary closing conditions. Under the terms of the deal, Semler shares will be exchanged for 21.05 shares of Strive Class A stock, valuing the offer at a 210% premium to Semler’s share price prior to the announcement.

“We are proud to announce this exciting strategic merger combining two pioneering Bitcoin treasury companies to form a scaled, innovative and accretive Bitcoin acquisition platform,” said Matt Cole, Chairman & CEO of Strive.

Following the deal’s closing, Semler Scientific Executive Chairman Eric Semler is expected to join the Board of Directors of the combined company. Strive’s management and Board of Directors will remain in place.

In parallel with the merger, Strive revealed the purchase of 5,816 BTC for roughly $675 million, bringing its total holdings to 5,886 BTC. Strive plans to accelerate its Bitcoin purchase via the acquisition of Semler Scientific.

The combined companies will hold over 10,900 BTC, positioning it as the 12th-largest public Bitcoin holder, surpassing both Hut 8 Mining and Galaxy Digital, according to data from BitcoinTreasuries.

“We believe this merger creates significant value for our stockholders by delivering a substantial premium and direct participation in one of the most innovative Bitcoin strategies in the public markets,” said Eric Semler, Executive Chairman of Semler Scientific.

Strive and Semler Scientific share prices closed the day with a 4.6% decline and 9.8% gain, respectively.

The move comes as other Bitcoin-focused public firms boosted their holdings.

Business intelligence firm Strategy revealed the purchase of 850 BTC for $99.7 million, pushing its treasury to 639,835 BTC, according to a filing on Monday.

Japan-listed Metaplanet also announced the acquisition of 5,419 BTC at a total cost of approximately $632.53 million. As a result, the firm is the fifth-largest publicly traded BTC treasury with total holdings of 25,555 BTC.