Asset Entities Inc. ( ASST ) shareholders approved a reverse merger with Vivek Ramaswamy-backed Strive Enterprises, creating what executives call a leading public Bitcoin (CRYPTO: BTC) treasury company with potential $1.5 billion in funding.

Transaction Details Finalized

The merger received strong shareholder support from Asset Entities ( ASST ) on Monday, following Strive shareholders’ September 4 approval. The combined company will retain the ASST ticker on Nasdaq under the Strive name.

Matt Cole will serve as CEO and chairman, while Asset Entities’ Arshia Sarkhani transitions to chief marketing officer and board member.

$750 Million PIPE Financing

Concurrent with closing, the company expects to complete a private placement (PIPE), generating over $750 million in gross proceeds. Additional warrants could unlock another $750 million, reaching the $1.5 billion target.

“Through our reverse-merger structure, zero debt profile, and $750 million PIPE, we are uniquely positioned relative to peers,” Cole said in a statement.

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Strategic Bitcoin Focus

The merger creates a Bitcoin treasury company designed to outperform Bitcoin through leveraged beta strategies and novel alpha-generating approaches.

Ramaswamy co-founded Strive in 2022 as a financial services firm. The former presidential candidate and biotech billionaire is expected to run for Ohio governor in 2026.

Market Context

Bitcoin treasury companies have gained prominence as corporate adoption increases. The deal positions Strive to compete with established players in the cryptocurrency treasury space.

Asset Entities ( ASST ) operates social media marketing services across Discord, TikTok, and other platforms. Strive Asset Management has managed over $2 billion in assets since launching its first ETF in August 2022.

The merger requires Nasdaq listing application clearance before closing.

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Disclaimer: This content was partially produced with the help of AI tools and was reviewed and published by Benzinga editors.