Asset Entities, a publicly traded company, announced on September 10 that its shareholders had voted to approve its merger with Strive Enterprises. The transaction, which had already been approved by Strive shareholders on September 4, received strong majority support from Asset Entities shareholders in this internal vote.
Building Bitcoin reserves after the merger
According to a press release, upon completion of the merger, the combined company will be renamed Strive and continue to trade on the Nasdaq under the ticker symbol ASST. Matt Cole will serve as CEO and Chairman of the Board of Directors, while Arshia Sarkhani, currently President of Asset Entities, will serve as Chief Marketing Officer and a member of the Board of Directors.
More importantly, the merged company will begin building a Bitcoin reserve. Asset Entities announced that it will leverage its reverse merger structure, zero debt, and a private placement (PIPE) of up to $750 million to maximize the value of each Bitcoin share for investors. Furthermore, if warrants issued in the private placement are exercised, the company could receive an additional $750 million, bringing the combined company's potential Bitcoin treasury to $1.5 billion.
Matt Cole stated, "This shareholder approval is a significant milestone in our journey to build a world-class Bitcoin treasury company. With our unique financial structure and strategic positioning, we are committed to creating long-term value for shareholders and outperforming Bitcoin itself." Arshia Sarkhani added, "This merger opens up the opportunity for us to build the most influential Bitcoin treasury company, and we look forward to maximizing value for our shareholders."
