Bevilacqua PLLC

Congratulations to our client, Asset Entities Inc. (Nasdaq: ASST), on signing the $750 million PIPE in connection with ASST’s merger with Strive Asset Management.

The proceeds are expected to fund the Company’s first wave of Bitcoin acquisitions and establish the company as a leading Bitcoin treasury company with a differentiated focus on alpha-generating strategies. The closing is expected to occur concurrently with the closing of the previously announced merger between ASST and Strive.

We are proud to have served as U.S. securities counsel to Asset Entities.

Congratulations to Arshia Sarkhani and the entire Asset Entities leadership team, and to Cantor Fitzgerald & Co., who served as exclusive financial advisor and placement agent for the PIPE.

https://www.globenewswire.com/news-release/2025/05/27/3088674/0/en/Strive-Asset-Management-and-Asset-Entities-Nasdaq-ASST-Announce-750M-Private-Investment-to-Fund-First-Wave-of-Bitcoin-Accumulation.html

New on the blog!

Navigating De-S**C Mergers with FPIs: What Cross-Border Companies Need to Know

De-S**C transactions continue to provide a compelling route to the U.S. capital markets, especially for Foreign Private Issuers (FPIs). But success in these deals hinges on one word: structure.

Whether it’s choosing between a S**C-on-top or S**C-on-bottom model, aligning accounting standards, or understanding Nasdaq exemptions, the right strategy can streamline the path while keeping regulatory compliance in check.

Paul C. Levites breaks it all down—structural choices, SEC and exchange rules, and key timing considerations—in his latest deep dive.

Read the full blog post:
“Navigating De-S**C Mergers with Foreign Private Issuers: Structural Considerations, Nasdaq Rules, and SEC Compliance” by Paul Levites

https://www.bevilacquapllc.com/blog_/navigating-despac-mergers-with-foreign-private-issuers-structural-considerations-nasdaq-rules-and-sec-compliance

**C **C &A

Surge in Chinese listings is reshaping the U.S. small-cap IPO market.

In just two quarters, 83 small-cap IPOs priced—53 of them from China and Hong Kong—marking the most active stretch in over 15 years. Many raised modest amounts but made up nearly half of all U.S. IPOs during that time. While some saw dramatic post-listing swings, the trend underscores strong interest from foreign issuers in accessing U.S. capital—even with evolving regulatory scrutiny.

As a capital markets firm that regularly advises Asia-based IPO issuers, we are closely tracking how this dynamic continues to play out.