- Strive Asset Management and Asset Entities (ASST, Financial) announce a $750 million private investment in public equity (PIPE), with potential to reach $1.5 billion through warrant exercises.
- The transaction is priced at $1.35 per share, representing a 121% premium.
- Strive plans innovative alpha-generating Bitcoin strategies, maintaining a debt-free status.
Strive Asset Management and Asset Entities (ASST) have revealed a significant $750 million PIPE investment designed to fuel Strive's initial Bitcoin acquisition phase. The investment has the potential to rise to $1.5 billion with warrant exercises priced at $1.35 per share, a substantial 121% premium to ASST's pre-merger closing price.
The primary objective of this investment is to establish Strive Asset Management as a leader in the Bitcoin treasury space through unique alpha-generating strategies intended to surpass traditional held Bitcoin assets. These strategies include acquiring biotech firms trading below their net cash value, purchasing discounted distressed Bitcoin claims such as those from Mt. Gox, and investing in the lower tranches of structured Bitcoin credit vehicles.
CEO Matt Cole emphasizes that this approach sets Strive apart from other Bitcoin treasury firms by focusing on strategies designed to outperform Bitcoin's market performance. Strive's commitment to maintaining its debt-free status ensures financial flexibility for future strategic acquisitions and limits risk exposure.
The transaction awaits shareholder approval from both companies. The deal highlights significant investor confidence in Strive's innovative Bitcoin strategy, with participation from leading institutional investors and Strive's management team. The completion of this merger with Asset Entities will position Strive as a publicly traded leader in the asset management Bitcoin treasury market.
