Semler (SMLR) shares rose to $32.06, significantly below the implied acquisition value of $86.30 in the all-stock deal with Strive (ASST). Analyst Mark Palmer from Benchmark highlights a wide 60% discount suggesting skepticism and potential opportunity in the ongoing bitcoin treasury mergers. The acquisition aims to consolidate Strive's bitcoin holdings—currently 5,886 BTC—along with Semler's 5,021 BTC, totaling 10,907 BTC. This positioning ranks them among the top public companies by cryptocurrency reserves. The merger could provide Strive not just with crypto assets but also Semler's diagnostics business, offering additional monetization options. However, successful completion hinges on shareholder approval and regulatory processes. Any adverse movement in Strive's stock or bitcoin prices could pressure the deal's terms. In premarket trading, SMLR shares rose 2.5% to $32.86, while ASST fell 4.9% to $3.90.

Source 🔗