Semler Scientific Acquisition Finalized, Shareholders Transition to Strive

The independent public trading journey of Semler Scientific has concluded following the finalization of its acquisition by Strive, Inc. on January 16. This corporate action triggers a direct exchange of shareholder holdings and marks a significant strategic pivot for the combined entity, heavily centered on Bitcoin treasury expansion.

Effective with the acquisition, Semler Scientific shares ceased to exist as a separate listed security. Holders of the former stock are now entitled to receive 21.05 shares of Strive Class A common stock for each share of Semler they previously owned. Reflecting this change, the Nasdaq is scheduled to suspend trading in Semler Scientific securities on January 20.

Market activity in the lead-up to the deal’s close signaled investor adjustment to the terms. On January 13, Semler’s stock price declined by nearly 10% after shareholders approved the transaction and Strive announced a separate 1-for-20 reverse stock split. Further price movement was observed on January 19, with shares retreating an additional 4.87%.

Strategic Shift: A Major Bitcoin Treasury Play

A core component of this merger is the transfer of Semler Scientific’s substantial Bitcoin holdings. Strive takes possession of 5,048.1 Bitcoin from Semler’s balance sheet. This infusion boosts the combined company’s total Bitcoin treasury to approximately 12,797.9 BTC.

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According to corporate statements, this positions the new Strive entity among the world’s largest public corporate holders of Bitcoin, currently ranked 11th globally. The company explicitly states that growing its Bitcoin reserve is a primary strategic objective, framing itself as an enterprise with a Bitcoin-centric treasury strategy.

Post-Merger Integration and Financial Strategy

Strive’s immediate plans for the integrated business involve addressing Semler’s outstanding liabilities and monetizing its legacy operations. The company intends to repay existing debts, including a $100 million convertible note and a $20 million loan from Coinbase.

Concurrently, Strive will seek to monetize Semler’s original core business—medical diagnostics. This includes the FDA-cleared QuantaFlo test, which is expected to be utilized as a funding source or an asset within the new corporate structure. Leadership changes confirm the integration, with Eric Semler joining Strive’s board of directors and Joe Burnett assuming the role of Vice President of Bitcoin Strategy at Strive.

In summary, shareholders now hold Strive Class A stock based on the 21.05 conversion ratio. The future trajectory of the consolidated company will be directly shaped by Strive’s execution of its stated plans: debt repayment and the monetization of the diagnostic division.