Asset Entities ( ASST ) shares are trading higher Monday after the company announced the Securities and Exchange Commission declared its registration statement on Form S-4, related to the previously announced proposed merge with Strive Enterprises, effective.

What To Know: The company said the SEC declared the Form S-4 effective on August 22, clearing a key step in the process for its merger with Strive. A virtual special meeting of stockholders will be held on Sept. 9, at 1:00 p.m. Central Time for shareholders to vote on four proposals related to the merger.

Asset Entities ( ASST ) said its board unanimously determined the merger agreement and related transactions are in the best interests of shareholders. Stockholders representing more than 40% of the vote have already committed to supporting the deal, with the company needing approximately 10% more to secure approval.

If completed, the combined company will be named Strive, Inc., continue to trade under the ticker symbol "ASST" and operate as a public Bitcoin Treasury Company. Asset Entities ( ASST ) expects to close a concurrent private placement financing of more than $750 million, with another $750 million available upon warrant exercises, for potential gross proceeds exceeding $1.5 billion.

Matt Cole, the current CEO of Strive, will lead the merged company as CEO and chairman. Asset Entities ( ASST ) President and CEO Arshia Sarkhani will serve as chief marketing officer and a director.

"We are thrilled to have the Registration Statement declared effective by the SEC," Sarkhani said. "We look forward to announcing the results of our stockholder vote to finalize this transformative Merger with Strive and to hit the ground running on building one of the biggest Bitcoin Treasury Companies."

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ASST Price Action: At the time of writing, Asset shares are trading 10.18% higher at $4.87, according to data from Benzinga Pro.

This illustration was generated using artificial intelligence via Midjourney.