Strive acquisition Semler Scientific, increasing total Bitcoin held to 5.886

Globenewswire reports that Strive, Inc. has signed an official agreement to acquire Semler Scientific in a completely stock-based transaction. Strive also announced the acquisition of 5,816 Bitcoin at an average price of 116,047 USD/Bitcoin to add to its investment portfolio, with a total purchase price of ( including fees) of 675 million USD, raising the total number of Bitcoin held by Strive to 5,886.

The merged company has announced plans to explore monetizing or distributing the highly profitable diagnostic business segment of Semler Scientific under the management of a new team with a broader mission in the preventive diagnostics field. In addition to the potential additional Bitcoin raised in future funding rounds, the merged company will own over 10,900 Bitcoin before any additional funding rounds and maintain sufficient cash reserves to support future issuances of perpetual preferred stock. After the transaction, the management team and board of directors of Strive will remain unchanged, with Eric Semler, the Executive Chairman of Semler Scientific, expected to join the board of the merged company. The transaction has been unanimously approved by the boards of both Strive and Semler Scientific. Completion is subject to customary closing conditions.