Semler shareholders will receive 21.04 Class A common shares of Strive for each Semler share, valuing Semler at $90.52 per share, a premium of more than 210% to its Friday close. The combined company would own more than 10,900 bitcoin and plans to fund future purchases using a “preferred equity only” model. Semler, which in addition to bitcoin holdings operates a healthcare business, offers a point-of-care test that measures arterial blood flow in the extremities. The deal reflects growing corporate adoption of bitcoin treasury strategies, following the approach pioneered by Michael Saylor's Strategy, which began purchasing bitcoin with cash reserves in 2020. Cantor Fitzgerald acted as financial advisor to Strive on the deal, while LionTree Advisors served as advisor to Semler.