Strive to Buy Semler Scientific in First Merger of Bitcoin Treasury Companies

With valuations of crypto treasury companies headed precise rapidly southbound successful caller weeks, assemblage consolidation seemed a certainty astatine immoderate point, with the lone question being erstwhile it would start.

It has.

Stive (ASST) has agreed to bargain Semler Scientific (SMLR) successful an all-stock woody that represents a 210% premium, oregon $90.52 per share, based connected Friday's marketplace close, according to a property release. Each stock of SMLR volition beryllium speech of 21.05 shares of ASST.

Semler Executive Chairman Eric Semler is expected to articulation the committee of the combined company.

Alongside, Strive announced the acquisition of 5,,816 bitcoin (BTC) for $675 million, oregon an mean terms of $116,047 each.

Adding that to Semler's astir 5,000 successful bitcoin holdings, the combined institution would clasp much than 10,900 BTC.

The woody comes arsenic Semler Scientific shares person been nether relentless unit for respective weeks, trading for good beneath the worth of the bitcoin connected its equilibrium sheet, frankincense presumably giving antagonistic worth to its aesculapian instrumentality business. The popping of the crypto treasury bubble this summertime has near a fig of companies successful akin positions.

"This merger cements Strive’s presumption arsenic a apical Bitcoin treasury company," said Matt Cole, president and CEO of Strive. "We judge our alpha-seeking strategies and superior operation presumption america to outperform bitcoin implicit the agelong run."

ASST shares are higher by 9.3% premarket to $4.71. SMLR shares haven't traded since the announcement hit, but closed astatine $29.18 connected Friday.