Strive Acquires Semler Scientific, Bitcoin Holdings Rise to 12,798 BTC

ChainCatcher News: Strive announced that the shareholders of Semler Scientific have voted to approve Strive's acquisition proposal. As part of the all-stock transaction, Strive will acquire 5,048.1 bitcoins held by Semler Scientific. Strive also announced the purchase of an additional 123 bitcoins for its company treasury at an average price of $91,561 per bitcoin, with a total purchase cost of $11,264,000 (including fees and expenses), bringing Strive's total bitcoin holdings to 7,749.8 bitcoins. After completing the acquisition of Semler Scientific, the combined company will hold 12,797.9 bitcoins, making it the 11th largest corporate bitcoin holder. Strive stated that its goal is to tokenize Semler's medical diagnostics business and resolve its $120 million debt issue. With the completion of the merger, the board approved a 1-for-20 reverse stock split for both Class A and Class B common shares of the combined company. Strive plans to disclose further details about the anticipated reverse stock split, including the expected effective date and the new CUSIP number for Class A common shares, in its upcoming 8-K Current Report. After the transaction is completed, Semler Scientific's Executive Chairman, Eric Semler, will join Strive's board of directors. Following the announcement, the stock prices of both Strive and Semler Scientific dropped by approximately 10%.