Strive Shares Fall 12% After Semler Deal To Expand Bitcoin Treasury

Strive's stock fell approximately 12% after the asset manager, co-founded by Vivek Ramaswamy, secured shareholder approval for an all-stock acquisition of Semler Scientific. This deal will add Semler Scientific’s 5,048.1 Bitcoin to Strive’s treasury, increasing its total holdings to 12,797.9 BTC, making it the 11th largest publicly traded Bitcoin holder. Strive also separately purchased 123 BTC, bringing its standalone holdings to 7,749.8 BTC. As part of the merger, Strive intends to monetize Semler’s operating business and address existing obligations, including a $100 million convertible note. The transaction also involves a 1-for-20 reverse stock split. The article notes that public companies adopting Bitcoin treasury strategies often experience significant stock volatility, citing Strive's prior surge of over 2,000% after announcing its strategy in May, followed by a sharp reversal.

(Source：Cointelegraph)