Strive agrees to acquire Semler Scientific in all-stock deal

Strive Inc. (NASDAQ: ASST) announced a definitive agreement to acquire Semler Scientific Inc. (NASDAQ: SMLR) in an all-stock transaction. The deal represents approximately a 210% premium, equivalent to about $90.52 per share, based on trading prices as of September 19, 2025.

Under the agreement, each Semler Scientific common share will be exchanged for 21.05 Class A common shares of Strive. Both companies' boards of directors have unanimously approved the transaction, which remains subject to customary closing conditions.

Strive also disclosed the purchase of 5,816 Bitcoin for its corporate treasury at an average price of $116,047 per Bitcoin, totaling $675 million including fees and expenses. This brings Strive's total Bitcoin holdings to 5,886.

The combined company would hold over 10,900 Bitcoin before any additional acquisitions from future financings. Strive management and board of directors will remain after closing, with Semler Scientific Executive Chairman Eric Semler expected to join the combined company's board.

The companies stated they plan to explore monetizing or distributing Semler Scientific's diagnostics business at a future date. Semler Scientific develops medical devices and software for chronic disease detection, including its FDA-cleared QuantaFlo product for peripheral arterial disease diagnosis.

Davis Polk & Wardwell LLP serves as legal counsel to Strive, while Goodwin Procter LLP represents Semler Scientific. Cantor Fitzgerald acts as financial advisor to Strive, and LionTree Advisors advises Semler Scientific.

The transaction information is based on the companies' press release statement.

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