Vivek Ramaswamy-backed Strive announced Wednesday that it plans to raise $150 million through a follow-on offering of its Variable Rate Series A Perpetual Preferred Stock (SATA Stock).
The Dallas-based company expects to use the net proceeds, together with existing cash, to reduce outstanding debt, acquire Bitcoin and Bitcoin-related products, and support corporate growth.
The offering reflects Strive’s strategy to optimize its balance sheet while advancing its Bitcoin-focused investment approach.
The announcement follows shareholder approval last week for Strive’s acquisition of Semler Scientific. The deal, which is expected to close in the near term, will add more than 5,000 Bitcoin to Strive’s balance sheet.
Strive currently holds nearly 7,750 BTC, valued at approximately $697 million at current market prices.
Upon completion of the acquisition, the company’s Bitcoin treasury will rise to 12,798 BTC, surpassing holdings at companies such as Tesla and Trump Media & Technology Group. That total would rank Strive as the 11th-largest corporate holder of Bitcoin.
Source: https://cryptobriefing.com/strive-bitcoin-purchase-debt-repayment/
