Strive raises $160M in oversubscribed SATA IPO as Vivek Ramaswamy buys in
Strive Asset Management completed an oversubscribed IPO, raising $160M in SATA stock, with Vivek Ramaswamy purchasing shares.Summary
Strive Asset Management, co-founded by Vivek Ramaswamy and positioned as 'anti-woke,' successfully closed an oversubscribed Initial Public Offering (IPO) of its Variable Rate Series A Perpetual Preferred Stock (SATA Stock) on Nasdaq, increasing the offering size from 1.25 million to 2 million shares due to high demand.
Vivek Ramaswamy personally acquired 15,625 shares of the SATA Stock at $80 per share, in addition to his existing substantial holdings. The IPO proceeds are earmarked for general corporate purposes and potentially increasing Strive's Bitcoin holdings, which aligns with the company's strategy to amplify its Bitcoin treasury.
Backed by investors including Peter Thiel and Bill Ackman, Strive is also in the process of acquiring health-tech firm Semler Scientific in an all-stock deal, a move expected to establish the combined entity as a major Bitcoin treasury entity.
(Source：Crypto Briefing)