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The Rise and (Mostly) Fall of the PIPE Model in Bitcoin Treasury Strategies
Yahoo Finance· 2025-10-16 16:00
Has the PIPE model failed for bitcoin treasury companies? The collapse in the share prices for two notable recently closed deals — KindlyMD (NAKA) and Strive (ASST) suggests as much. A PIPE, or Private Investment in Public Equity, is a financing mechanism where institutional investors purchase shares directly from a publicly traded company at a pre-determined price, typically below market value, which allows the company to raise capital at a much faster rate without the lengthy and costly process of a tra ...
Strive Appoints Ben Werkman as Chief Investment Officer to Advance Bitcoin Strategy
Globenewswire· 2025-10-06 11:00
DALLAS, Oct. 06, 2025 (GLOBE NEWSWIRE) -- Strive, Inc. (“Strive” or the “Company”) (Nasdaq: ASST) today announced the appointment of Ben Werkman as Chief Investment Officer (“CIO”) reporting to Strive Chairman and Chief Executive Officer (“CEO”) Matt Cole. A recognized Bitcoin advocate with a proven track record in corporate Bitcoin strategy and institutional finance, Mr. Werkman brings deep expertise in treasury strategy, implementation, capital allocation, equity and derivatives trading, and risk manageme ...
Morning Market Movers: GLXG, LAC, AIHS, RMSG See Big Swings
RTTNews· 2025-10-01 12:03
Core Insights - Premarket trading is showing notable activity with early price movements indicating potential opportunities before the market opens [1] Premarket Gainers - Galaxy Payroll Group Limited (GLXG) increased by 39% to $5.34 - Lithium Americas Corp. (LAC) rose by 31% to $7.52 - Senmiao Technology Limited (AIHS) gained 22% to $2.45 - The AES Corporation (AES) saw a 10% increase to $14.53 - Strive, Inc. (ASST) also increased by 10% to $2.77 - Shoulder Innovations, Inc. (SI) rose by 9% to $13.78 - Top KingWin Ltd (WAI) increased by 8% to $3.80 - Southland Holdings, Inc. (SLND) saw a 7% increase to $4.61 - CaliberCos Inc. (CWD) rose by 6% to $4.75 - Mannatech, Incorporated (MTEX) increased by 5% to $10.53 [3] Premarket Losers - Real Messenger Corporation (RMSG) decreased by 16% to $2.01 - Etoiles Capital Group Co., Ltd (EFTY) fell by 14% to $14.45 - Enanta Pharmaceuticals, Inc. (ENTA) dropped by 13% to $10.41 - CollPlant Biotechnologies Ltd. (CLGN) saw an 11% decrease to $2.39 - Fortress Biotech, Inc. (FBIO) declined by 10% to $3.30 - Uni-Fuels Holdings Limited (UFG) fell by 9% to $7.52 - Alset Inc. (AEI) decreased by 9% to $2.30 - JFB Construction Holdings (JFB) saw a 5% decline to $12.20 - SHF Holdings, Inc. (SHFS) dropped by 5% to $6.80 - Phio Pharmaceuticals Corp. (PHIO) decreased by 5% to $2.34 [4]
Vivek Ramaswamy's Bitcoin Play Just Got Bigger: This $1.3B Deal Could Signal Corporate Crypto's Next Phase
Yahoo Finance· 2025-09-30 00:01
Benzinga and Yahoo Finance LLC may earn commission or revenue on some items through the links below. The corporate Bitcoin treasury playbook just got another high-profile convert as Vivek Ramaswamy’s Strive (NASDAQ: ASST) on Sept. 22 announced a $1.3 billion all-stock acquisition of Semler Scientific (NASDAQ: SMLR). The deal values Semler at $90.52 per share—a staggering 210% premium to the Sept. 19 close—while Strive simultaneously announced plans to purchase an additional 5,816 Bitcoin for $675 million. ...
PIPE私募反噬!若币价跌入熊市,“财库公司”面临“恶性循环”
Hua Er Jie Jian Wen· 2025-09-26 07:17
其他比特币财库公司的股票也显示出类似的轨迹。Strive(ASST)目前股价为3.00美元,较其2025年的高点下跌了78%,而 其PIPE发行价仅为1.35美元。这一差距意味着,如果股价回归到发行水平,仍有高达55%的下跌空间。 那些通过PIPE(上市公司私募融资)大举买入比特币的"财库公司"正面临股价向折价发行水平回落的巨大压力,当前投资者 可能面临高达55%的潜在损失。多家公司股价已出现相似轨迹,显示这一模式的结构性风险正在显现。 据CryptoSlate 9月25日报告,这种压力模式在多家使用PIPE交易为比特币购买提供资金的公司中表现一致。部分公司股价已 跌破其PIPE发行价格,而另一些公司则面临类似风险。 随着PIPE投资者的限售股解禁并开始交易,抛售压力可能进一步加剧。报告指出,五家比特币财库公司通过PIPE交易共筹 集超过25亿美元资金,比特币持有量在3205至43514枚之间。 这种动态创造了一个反馈循环:比特币价格疲软对财库公司股票造成压力,可能迫使额外抛售,进一步拖累比特币和公司股 价。 股价暴跌已成现实,多公司逼近PIPE价格 股价向PIPE发行价的"自由落体"已在部分公司身上得到体现 ...
Vivek Ramaswamy's crypto stock crashes after billion dollar deal
Yahoo Finance· 2025-09-24 17:47
Company Overview - Strive, Inc. or Strive Asset Management (ASST) has seen a significant decline of over 10% in its stock price, dropping from $3.35 to around $3.01 to $3.02 as of September 24 [1] - The stock has traded between $3.03 and $3.20, indicating ongoing downward pressure [1] Trading Activity - Current trading volume is over 2.6 million shares, which is below the average of 7.5 million, suggesting reduced momentum [2] - The shares are under heavy selling pressure, reflecting a double-digit percentage decline [2] Business Strategy - Strive, Inc. is positioning itself as a Bitcoin treasury asset manager, integrating its investment arm with a strategy of holding Bitcoin directly on its balance sheet [3] - The company was co-founded by Vivek Ramaswamy, who emphasizes "shareholder primacy" and anti-ESG rhetoric in its mission [3] Product Offerings - Strive offers ETFs and separately managed accounts (SMAs) that include customization features and tax-loss harvesting functionality [4] Recent Acquisition - On September 22, Strive announced an all-stock acquisition of Semler Scientific valued at approximately $1.34 billion, with Semler shareholders receiving 21.04 Strive shares for each Semler share, equating to $90.52 per share [5] - This acquisition is expected to enhance Strive's Bitcoin strategy, as it plans to acquire an additional 5,816 BTC valued at $675 million, leading to a total holding of over 10,900 BTC post-merger [6] Market Reaction - As of the time of writing, Semler Scientific (SMLR) has experienced a 2.27% downturn, while ASST's price decline is attributed to concerns over dilution and governance issues related to the upcoming merger [7]
Semler Scientific Still Has Nearly 170% Upside After Strive Buyout Deal: Benchmark
Yahoo Finance· 2025-09-23 13:18
Shares of Semler Scientific (SMLR) closed at $32.06, well below the implied $86.30 takeout value in its announced all-stock acquisition by Strive (ASST), a discount Benchmark analyst Mark Palmers say reflects both skepticism and opportunity in the emerging bitcoin treasury M&A wave. Palmer reiterated its buy rating on Semler while trimming his price target on the stock to $86 from $101 to reflect the terms of the Strive deal. The fixed exchange ratio, 21.05 Strive shares per Semler share, suggests a lucr ...
Youngest Presidential candidate's company to acquire Bitcoin treasury firm
Yahoo Finance· 2025-09-22 19:13
Strive, Inc. (Nasdaq: ASST), the investment firm co-founded by Vivek Ramaswamy, announced on Sep. 22 that it is acquiring Semler Scientific (Nasdaq: SMLR), a Bitcoin treasury firm, in an all-stock transaction. Ramaswamy is an entrepreneur and politician who entered U.S. politics as the youngest presidential candidate in the 2024 Republican primaries. However, he withdrew his bid and endorsed Donald Trump who later became the president. He is now campaigning to contest the 2026 Ohio gubernatorial election, ...
Strive Inc. 宣布以全股票方式收购 Semler Scientific
Xin Lang Cai Jing· 2025-09-22 12:53
Group 1 - Strive Inc. announced an all-stock acquisition of Semler Scientific [1] - Strive purchased 5,816 bitcoins at an average price of $116,047 each, totaling approximately $675 million, increasing its bitcoin holdings to 5,886 [1] - Post-merger, the combined companies will hold over 10,900 bitcoins and plan to explore further monetization or expansion of Semler's research diagnostics business [1]
X @Michael Saylor
Michael Saylor· 2025-09-22 12:26
Mergers and Acquisitions - Strive (ASST) entered into a definitive agreement to acquire Semler Scientific (SMLR) in an all-stock transaction [1] - Semler Scientific's Eric Semler to join Strive board post close [1] Bitcoin Holdings - Strive announced the purchase of 5,816 Bitcoin [1] - The combined company will hold more than 10,900 Bitcoin [1] Business Strategy - Post-merger intention to monetize or distribute Semler Scientific's historically profitable diagnostics business [1]