Asset Entities Inc (ASST) has revealed that its shareholders have given the green light for a merger with Strive Enterprises. This development follows the approval from Strive’s shareholders on September 4, setting the stage for the newly formed entity, which will be known as Strive Inc., to implement a bitcoin treasury strategy.
Strive Enterprises was co-founded in 2022 by Vivek Ramaswamy, who previously ran for president.
The merged company will be headed by Matt Cole, who is currently at the helm of Strive Asset Management and will serve as chairman and CEO. Meanwhile, Arshia Sarkhani, President and CEO of Asset Entities, will take on the role of chief marketing officer and join the board. The completion of this merger is contingent upon receiving Nasdaq listing approval along with other standard conditions outlined in their announcement.
Upon finalization of this deal, Strive anticipates securing $750 million through private placement (PIPE) financing. If warrants are exercised successfully, total gross proceeds could exceed $1.5 billion. Cole emphasized that their debt-free status positions them well to enhance bitcoin per share through disciplined long-term strategies aimed at surpassing Bitcoin’s performance itself.
In U.S. mid-morning trading sessions, ASST shares have surged by 38%.