Strive Asset Management Merges with Asset Entities to Create a Public Bitcoin Treasury Company

Asset Entities, a technology firm specializing in social media marketing and content delivery across platforms, announced today that it has entered into a definitive merger agreement with Strive Asset Management, LLC, a premier, purpose-driven asset management firm and the manager of the Strive U.S. Energy Index Fund (NYSE: PEIX), to create a new public Bitcoin treasury Company. The combined entity will be listed on Nasdaq and will operate under the Strive brand.

The companies also announced that, following the merger, Strive intends to apply to list its shares on a major U.S. exchange.

The merger agreement follows Asset Entites's earlier announcement in March that it was exploring strategic alternatives, including a possible merger or other combination in order to maximize shareholder value. Strive also disclosed earlier this year that it was evaluating new investment products and strategies to expand its mission of "striving for good in investing."

The new entity will be structured to maximize Bitcoin exposure per share and will aim to outperform Bitcoin over the long term. It will also seek to keep fees low and provide investors with high-quality financial reporting.

The transaction is being structured as a “reverse merger,” which is expected to provide the new entity with immediate access to an effective shelf registration statement and the ability to begin raising capital promptly after closing. The company plans to raise up to $1 billion in capital through equity and debt offerings following the merger. The net proceeds from such offerings will be used to accumulate Bitcoin in a strategic and accretive manner.

The merger builds on a growing trend of U.S. public companies, such as Tesla and Cathay Bank, integrating Bitcoin into their balance sheets. The new entity will continue this innovation by providing a pure-play Bitcoin treasury vehicle.

“We are thrilled to be joining forces with Strive Asset Management to help pioneer the future of corporate Bitcoin treasury strategies,” said Arshia Sarkhani, President and CEO of Asset Entities. “Asset Entities' strength in building and activating online communities across Discord and other platforms will be critical to driving education, engagement, and adoption of Bitcoin-centric financial models. Together, we can introduce a new generation of investors to the enduring value proposition of Bitcoin.”

“We are excited to combine our strengths in order to launch a unique and valuable investment product that we believe will benefit both our existing and new shareholders,” said Vivek Ramaswamy, Chairman of Strive Asset Management. "This merger also reflects Strive's ongoing commitment to developing new investment strategies that align with our core values and purpose to strive for good in investing."

The executive team will be led by Matt Cole, former $70 billion fixed income portfolio manager, and CFO Ben Pham. CMO Arshia Sarkhani and CLO Logan Beirne will also play key roles. Strive also plans to appoint prominent Bitcoin advocates Ben Werkman, Jeff Walton, and Avik Roy to the board of directors following the merger.

The merger is subject to regulatory approvals and the satisfaction of other customary closing conditions. A closing date has not yet been announced.