Asset Entities, Strive Asset Management Sign $750 Million PIPE Financing

MT Newswires Live
27 May

Asset Entities (ASST) and Strive Asset Management said Tuesday they signed a $750 million private investment in public equity deal priced at $1.35 per Asset Entities share.

The companies said the pricing represents a 121% premium to the stock's close immediately before Asset Entities' merger announcement with Strive Asset Management earlier this month.

The PIPE financing also includes warrants exercisable at $1.35 per common share, potentially raising up to $750 million in additional proceeds upon full exercise of the warrants, the companies said,

Asset Entities and Strive Asset Management said the financing is expected to close concurrently with their merger transaction, subject to certain conditions including shareholders' approval. The companies plan to use the proceeds to support the merged company's bitcoin acquisitions.

Shares of Asset Entities were down more than 11% in recent Tuesday trading.

Price: 9.23, Change: -1.23, Percent Change: -11.76

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