Semler Scientific Stock Soars on Strive Inc. Acquisition News
The all-stock deal aims to create a Bitcoin treasury powerhouse, combining the firms' holdings to over 10,900 BTC.
Shares of Semler Scientific (SMLR) surged more than 14% in active trading after Bitcoin asset management company Strive Inc. announced its intention to acquire the biotech firm in an all-stock transaction. The deal signals a significant consolidation among publicly traded companies adopting a Bitcoin treasury strategy.
The merger, which has been unanimously approved by the boards of both companies, will create a combined entity holding over 10,900 Bitcoin. This positions the new company among the largest corporate holders of the cryptocurrency globally. specifies that Semler shareholders will receive 21.05 shares of Strive Class A common stock for each share of Semler common stock they own.
Strive, co-founded by entrepreneur Vivek Ramaswamy, has been aggressively building its Bitcoin reserves. Alongside the merger news, Strive announced it had recently purchased an additional 5,816 Bitcoin, bringing its total to nearly 5,900 BTC. The acquisition of Semler Scientific is a strategic move to further accelerate this accumulation.
Semler Scientific, known for its profitable medical diagnostics business including the FDA-cleared QuantaFlo system, had recently pivoted to include Bitcoin as a primary treasury reserve asset. Following the acquisition, the combined company plans to explore options for monetizing or spinning off Semler's legacy diagnostics division. , this will allow the new entity to focus purely on its Bitcoin strategy.
The market reaction highlighted investor enthusiasm for Semler's side of the deal, with the stock price climbing on trading volume nearly ten times its recent average. , reflecting the substantial premium embedded in the all-stock offer. Strive's management and board will remain in place, with Semler's Executive Chairman, Eric Semler, expected to join the combined company's board upon the deal's closing.