Shares of Tech Company Asset devices (ASST) rose 194% on Wednesday after it announced that Strive Asset Management merged with the NASDAQ-listed company to become a publicly traded Bitcoin (BTC) Treasury Company.

The transaction, which is structured as a reverse merger, leaves the combined company operating under the pursuit name and is listed on Nasdaq. Strive plans to build a significant Bitcoin reserve using new investment and financing strategies designed to limit shareholder dilution.

An important strategy is a planned equity-for-bitcoin swap that is available to certain accredited investors, companies said in the press release. The exchange will use a tax supply known as section 351, which makes it possible to help be appreciated to a company that is tax -free in return for shares, subject to individual circumstances. The deal will not carry a prize for the company’s transaction price, according to the announcement.

Striving CEO Matt Cole, formerly a permanent -income portfolio manager of $ 70 billion, said the company is aiming to surpass Bitcoin by using it as a benchmark for capital installation. Strategies will include merger with over -capitalized companies to access reduced cash, use leverage and implement structured products to uncover risk.

The company plans to expand its capital collection capacity to $ 1 billion after merger through an effective shelf registration that offers flexibility to finance Bitcoin purchases via equity and debt sales.

The pursuit has grown quickly since the launch in 2022, controlled approx. $ 2 billion and get attention for its opposition to ESG mandates. According to the company, the merger is a next step in pushing for Bitcoin -admission across corporate taxes, a goal that will also advocate among companies that are held in its funds.

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