Asset Entities (ASST, Financial) has forged a definitive merger agreement with Strive Asset Management, a branch of Strive Enterprises. Following the merger, the combined entity will operate under the Strive brand and maintain its listing on NASDAQ, transforming into a public Bitcoin Treasury Company. Strive Asset Management aims to craft a long-term investment strategy that seeks to outperform Bitcoin. This strategy includes an innovative offer where the merged company's equity can be exchanged for Bitcoin, potentially in a tax-free manner for investors.
The firm also plans to acquire discounted cash by merging with companies that have excessive capital, and it aims to leverage Bitcoin accumulation while managing risk through unique methods involving fixed income and derivative expertise. The reverse merger setup will furnish the company with an effective shelf registration statement for raising primary capital, with an expansion goal to $1 billion post-transaction. Notably, the deal stipulates no markup for participants in the equity-for-Bitcoin exchange.
Matt Cole is set to steer the company as CEO and Chairman. Strive Enterprises, still held privately and co-founded by Vivek Ramaswamy, will oversee SAM’s wealth management division as it transitions to a standalone RIA. Prior to the planned equity-for-Bitcoin exchange and any other financing, Strive Enterprises is projected to control approximately 94.2% of the public company, leaving legacy shareholders of Asset Entities with about 5.8% ownership.
