That equity investment is now presumptively worthless after Saks continuously failed to meet its budgets, burned through hundreds of millions of dollars in less than a year, and ran up additional hundreds of millions of dollars in unpaid invoices owed to its retail partners," Amazon's attorneys wrote in a court filing on Wednesday, just hours after Saks Global filed for Chapter 11 with a $1.75 billion financing package.
Strive, Inc. announced today that stockholders of Semler Scientific, Inc. approved its acquisition by Strive, marking a landmark deal in publicly traded Bitcoin-backed companies. The all-stock transaction includes Semler Scientific's 5,048.1 Bitcoin, significantly expanding Strive's digital asset holdings. In addition, the company said they purchased 123 more Bitcoin for its corporate treasury at an average price of $91,561 per coin, for a total cost of approximately $11.26 million, inclusive of fees and expenses, the company said.