Vivek Ramaswamy’s Strive plans to raise $150M in preferred stock sale to buy Bitcoin and repay debt

Vivek Ramaswamy-backed Strive announced plans to raise $150 million through a follow-on offering of its Variable Rate Series A Perpetual Preferred Stock (SATA Stock). The company intends to use the net proceeds, combined with existing cash, to reduce outstanding debt, acquire Bitcoin and Bitcoin-related products, and fund corporate growth. This offering aligns with Strive's strategy to optimize its balance sheet while advancing its Bitcoin-focused investment approach. The announcement comes after shareholders approved Strive's acquisition of Semler Scientific, which is expected to add over 5,000 Bitcoin to its holdings. Strive currently holds nearly 7,750 BTC, and upon closing the acquisition, its total Bitcoin treasury will increase to 12,798 BTC, positioning it as the 11th-largest corporate holder of Bitcoin.

(Source：Crypto Briefing)