Asset Entities (ASST, Financial) has entered into an agreement with Strive Asset Management for a significant $750 million private investment in public equity. Additionally, there is potential for another $750 million in financing through warrant exercise, which could bring the total proceeds to $1.5 billion. This capital infusion is earmarked to support Strive's ambitious Bitcoin acquisition plans, aiming to revolutionize Bitcoin treasury management through advanced alpha-generating strategies.
The initiative involves acquiring undervalued biotech firms and distressed Bitcoin claims, leveraging Strive's strategic partnership with 117 Partners LLC. The private investment is priced at $1.35 per share, marking a 121% premium over Asset Entities' closing price before the merger announcement. Notably, Strive has chosen not to pursue debt financing, maintaining leverage capacity for future optimization of returns.
The transaction is contingent upon customary approvals from both companies' shareholders and seeks to position Strive as a leader in Bitcoin treasury operations. CEO Matt Cole will discuss these strategies further at the Bitcoin for Corporations event in Las Vegas, with the presentation available for streaming later.
