Strive, Semler Scientific announce Bitcoin treasury merger in all-stock deal

Strive (ASST) announced that it has entered into a definitive agreement to acquire Semler Scientific (SMLR) in an all-stock transaction. In addition, Strive announced the purchase of 5,816 Bitcoin to its corporate treasury at an average price of $116,047 per Bitcoin, for a total purchase price of $675,000,000, inclusive of fees and expenses, bringing Strive’s total Bitcoin holdings to 5,886. The deal represents an approximately 210% premium, equivalent to approximately $90.52 per share, based on the trading price of Semler Scientific common stock and Strive Class A common stock as of the market close on September 19, 2025. Each common share of Semler Scientific will be exchanged for 21.05 Class A common shares of Strive. The combined company would own over 10,900 Bitcoin prior to any additional Bitcoin raised from future financings, in addition to sufficient cash held in reserve to support future perpetual preferred offerings. Strive management and Board of Directors will remain post-closing with Semler Scientific Executive Chairman Eric Semler expected to join the Board of Directors of the combined company. The transaction has been unanimously approved by the boards of directors of Strive and Semler Scientific. Closing of the transaction is subject to the satisfaction of customary closing conditions.