The shares of the Technological Company Asset ENTIES (ASST) increased by 194% on Wednesday after announcing that Strve Asset Management merged with the listed company at NASDAQ to become a Bitcoin cash (BTC) listed on the stock market.
The agreement, structured as an inverted merger, will let the company combined under the name of the phase and listed on the Nasdaq. Strive plans to build a significant bitcoin reserve using new investment and financing strategies designed to limit the dilution of shareholders.
A key strategy is an exchange of capital provided for Bitcoin available for certain accredited investors, companies said in the press release. The scholarship will use a tax provision known as article 351, which allows assets appreciated to be contributed to a company in tax franchise in exchange for stocks, subject to individual circumstances. The agreement will not bring a bonus to the company’s transaction price, according to the announcement.
The CEO of Strive, Matt Cole, formerly responsible for the fixed income portfolio of $ 70 billion, said that the company was aimed at surpassing bitcoin by using it as a reference for the deployment of capital. Strategies will include merger with over -specialized companies to access reduced prices species, use the lever effect and the deployment of structured products to cover the risks.
The company plans to extend its capital collection capacity to $ 1 billion after merger thanks to an effective conservation registration, offering flexibility to finance Bitcoin purchases via capital and debt sales.
Strive has increased quickly since its launch in 2022, managing about $ 2 billion and attracting attention to its opposition to ESG mandates. The merger, according to the company, is a next step to put pressure for the adoption of bitcoin through business treasury bills, a goal that it will also plead among the companies held in its funds.
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