Asset Entities to combine with Strive Asset Management in bitcoin treasury co.

Asset Entities (ASST) and Strive Asset Management, a subsidiary of Strive Enterprises, have entered into a definitive merger agreement. The combined company will operate under the Strive brand, remain listed on NASDAQ, and become a public Bitcoin Treasury Company. Strive Asset Management intends to use all available mechanisms to build a long-term investment approach designed to outperform Bitcoin. Such strategies include the planned first of its kind offer of combined company equity in exchange for Bitcoin in a manner that is intended to be tax-free to investors; acquiring cash at a discount through mergers with overcapitalized companies; and unlocking additional leverage to accumulate Bitcoin, while hedging risk in novel ways using in-house fixed income and derivatives expertise. The reverse merger structure is expected to give the company immediate access to an effective shelf registration statement to raise primary capital after the closing of the transaction, which the company plans to expand to $1B following the closing. It is currently expected that there will be no markup to the deal transaction price for participants in this exchange. Matt Cole will lead the company as CEO and Chairman of the Board. Strive Enterprises, co-founded by Vivek Ramaswamy, will remain a privately held company and will include SAM’s wealth management business, which will transition to its own RIA. Before factoring in the contemplated Bitcoin-for-stock exchange and any additional financing, Strive Enterprises will own approximately 94.2 % of the public company and the legacy shareholders of Asset Entities will own the remaining 5.8%.