Asset Entities (ASST, Financial) has announced a definitive merger with Strive Asset Management, forming a new entity that will operate under the Strive brand and continue its NASDAQ listing. This combined company plans to become a public Bitcoin Treasury Company. Strive Asset Management aims to build a significant Bitcoin reserve while minimizing dilution for its shareholders. The strategy is designed to outperform Bitcoin, with Bitcoin itself serving as the benchmark for capital deployment.
The management team intends to implement proprietary strategies, including offering equity in exchange for Bitcoin in a tax-free manner pursuant to Section 351 of the U.S. tax code. Additionally, the company plans to acquire undervalued companies to secure cash and leverage novel risk hedging strategies. A reverse merger will enable access to an effective shelf registration, facilitating capital raising that could possibly expand to $1 billion post-transaction to support Bitcoin accumulation.
The leadership of the newly formed company includes Matt Cole as CEO, Ben Pham as CFO, Arshia Sarkhani as CMO, and Logan Beirne as CLO, all serving on the board. Meanwhile, Strive Asset Management will bring in esteemed Bitcoin experts to serve as independent directors. The merger strategically positions the company to execute its innovative growth strategy. Strive Enterprises, retaining a significant ownership stake post-transaction, will remain a privately held entity, focusing on expanding its wealth management services.
