Strive Acquires Semler for $1.3B, Boosting Bitcoin Holdings
Strive Asset Management, led by Republican gubernatorial candidate Vivek Ramaswamy, is acquiring Semler Scientific in an all-stock deal worth $1.3 billion. The acquisition, announced on Monday, represents a significant premium to Semler's current valuation and will boost Strive's Bitcoin holdings.
Semler's stock had been trading at a discount to its Bitcoin holdings prior to the acquisition. The deal offers a 210% premium to Semler's value, with Strive offering $90.52 per share. Semler's stock price has dipped 35% since its first Bitcoin purchase in early February.
Strive, which adopted Bitcoin as a treasury reserve asset in May, expects to gain around 5,000 Bitcoin from the deal. This will increase its total Bitcoin holdings to 10,900. Strive CEO Matt Cole had previously expressed interest in acquiring struggling Bitcoin treasury firms, and some experts predict a wave of consolidation among Bitcoin-buying firms due to market saturation. Despite a 6% drop on Monday, Strive's stock price remains up 700% year-to-date.
The acquisition of Semler Scientific by Strive Asset Management, led by Vivek Ramaswamy, is a significant move in the Bitcoin space. It represents a substantial premium for Semler shareholders and a boost to Strive's Bitcoin holdings. The deal reflects the ongoing interest in and potential of Bitcoin as a reserve asset.
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