Street Calls of the Week
DALLAS - Strive, Inc., formerly known as Asset Entities Inc. (NASDAQ:ASST), announced Friday the completion of its merger with Strive Enterprises, Inc. The combined entity, currently valued at $147.9 million, will continue trading on the Nasdaq exchange under the ticker symbol ASST. According to InvestingPro data, the stock has shown significant momentum, surging 96% in the past week.
In connection with the merger closing, the company secured approximately $750 million in equity financing. An additional $750 million could potentially become available through the exercise of warrants issued as part of the financing arrangement, potentially bringing total proceeds to approximately $1.5 billion.
Strive describes itself as "the first publicly traded asset management Bitcoin treasury company" focused on increasing Bitcoin per share to outperform Bitcoin over the long term. The company plans to implement a Bitcoin accumulation strategy following the merger.
Strive Asset Management, LLC, a wholly owned subsidiary of Strive and an SEC-registered investment adviser, has grown to manage over $2 billion in assets since launching its first ETF in August 2022.
The merger announcement comes after the previously disclosed plans between the two companies. The information in this article is based on a press release statement issued by Strive, Inc.
In other recent news, Asset Entities Inc. announced that its shareholders have approved a merger with Strive Enterprises, Inc. This development marks a significant step toward forming a Bitcoin treasury company. The merger, which was supported by a strong majority of Asset Entities’ shareholders, follows the approval from Strive stockholders earlier this month. Upon completion, the combined entity will be renamed Strive, Inc., but it will continue to trade under the ASST ticker symbol on Nasdaq. Prior to the shareholder approval, Asset Entities had also received clearance from the U.S. Securities and Exchange Commission for the merger vote. The SEC’s approval allowed the company to proceed with a virtual special meeting where stockholders voted on the merger proposals. These recent developments suggest that both companies are moving forward to consolidate their operations under a unified brand.
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