Strive to Raise $150M for Bitcoin Acquisition and Debt Reduction
- Strive plans to raise $150 million through a follow-on offering of its Variable Rate Series A Perpetual Preferred Stock (SATA Stock).
- The funds will be used to reduce outstanding debt, acquire Bitcoin and related products, and support corporate growth.
- The company’s acquisition of Semler Scientific is expected to add more than 5,000 Bitcoin to its balance sheet.
- Currently holding nearly 7,750 BTC valued at approximately $697 million, Strive’s Bitcoin treasury will increase to 12,798 BTC post-acquisition.
- This total would make Strive the 11th-largest corporate holder of Bitcoin, surpassing companies like Tesla and Trump Media & Technology Group.
Strive’s strategic move aims to optimize its balance sheet while enhancing its investment in Bitcoin, positioning it as a major corporate holder in the cryptocurrency market.
Source (3.2)https://cryptobriefing.com/strive-bitcoin-purchase-debt-repayment/?rand=59535
