09:50 AM EDT, 05/07/2025 (MT Newswires) -- Asset Entities ( ASST ) shares were gaining more than 190% Wednesday after the company said it will merge with Strive Asset Management to form a public company.

The combined company will operate as a public Bitcoin treasury under the Strive name and remain listed on Nasdaq, Asset Entities ( ASST ) said.

The company said it plans to use a Bitcoin-for-stock exchange process to accumulate Bitcoin, expected to qualify as tax-free under Section 351 of the US tax code.

The multimedia marketing company said the transaction will be structured as a reverse merger and is expected to give the company immediate access to an existing shelf registration, which it plans to expand to $1 billion following closing.

Asset Entities ( ASST ) said Strive CEO Matt Cole will lead the combined company.

After the deal closes, Strive Enterprises will hold about 94.2% of the public company, with Asset Entities' ( ASST ) legacy shareholders holding the rest, excluding effects from the planned Bitcoin exchange and future financings.

Price: 1.80, Change: +1.18, Percent Change: +192.26