Asset Entities approves merger with Strive to establish a $1.5 billion BTC financial company

ChainCatcher news, Asset Entities Inc (ASST) announced that its shareholders have approved the merger plan with Strive Enterprises.

Previously, shareholders of Strive Enterprises approved the merger on September 4, paving the way for the newly merged company (to be renamed Strive Inc.) to implement a Bitcoin reserve strategy. Former presidential candidate Vivek Ramaswamy co-founded Strive Enterprises in 2022. According to the announcement, the completion of the merger transaction is still subject to Nasdaq listing approval and other customary conditions. Matt Cole, who currently heads Strive Asset Management, will serve as the chairman and CEO of the merged company. Strive expects to secure $750 million in private equity financing (PIPE) upon completion of the merger, with a potential total financing exceeding $1.5 billion if warrants are exercised. Cole emphasized the company's debt-free structure and stated that it aims to maximize the number of Bitcoin per share through a rigorous, long-term approach designed to outperform Bitcoin itself.