Strive clears Semler debt off books, buys more bitcoin after $225 million preferred stock sale
Strive raised $225 million in preferred stock, using proceeds to clear most Semler debt and acquire 333.89 more bitcoin.Summary
Bitcoin treasury company Strive (ASST) successfully raised $225 million through an oversubscribed offering of its SATA preferred stock, which was upsized from an initial $150 million target due to high demand.
The funds allowed Strive to significantly reduce leverage incurred from its acquisition of Semler Scientific (SMLR). Specifically, the company retired $110 million of the $120 million in legacy Semler debt, including exchanging $90 million of convertible notes into SATA stock and fully repaying a $20 million Coinbase Credit loan. This action means 100% of Strive’s bitcoin holdings are now unencumbered, with plans to retire the final $10 million of debt by April 2026.
Additionally, Strive utilized some of the capital to purchase an additional 333.89 bitcoin at an average price of $89,851, increasing its total holdings to 13,131 BTC, making it the tenth largest public corporate holder globally, with holdings valued over $1.1 billion.
(Source：CoinDesk)