Strive, Inc. (NASDAQ: SATA) has announced its proposed follow-on offering of shares of its variable rate series A perpetual preferred stock (SATA stock) with the aim of raising $150 million. The net proceeds from this offering, combined with existing cash and potential cash from terminating Strive's existing capped call transactions, will be used for various purposes including the redemption, repurchase, repayment, satisfaction, or other payment of the outstanding 4.25% convertible senior notes due 2030 issued by Semler Scientific, Inc., a wholly-owned subsidiary of Strive. In addition, the funds will be utilized for the acquisition of Bitcoin and Bitcoin-related products and for working capital and general corporate purposes.
Strive also revealed that it is in the process of negotiating separate transactions with certain holders of the Semler convertible notes to exchange some or all of the notes for shares of SATA stock, with the intention of reducing the size of the follow-on offering accordingly. The company further stated that any such exchange would be conducted pursuant to an exemption from registration under the Securities Act.
The monthly regular dividend rate per annum for the SATA stock is currently set at 12.25%, with Strive having the discretion to adjust this rate subject to certain restrictions. The company also intends to increase the dividend reserve in the dividend payment account in line with the proposed offering, depositing $12.25 per share of SATA stock sold into the account.
Barclays and Cantor are acting as joint book-running managers for the offering, with Clear Street serving as co-manager. The offering is being made pursuant to an effective shelf registration statement on file with the Securities and Exchange Commission (SEC).
Strive, the first publicly traded asset management Bitcoin treasury company, holds approximately 12,797.6 Bitcoin as of January 16, 2026. Since launching its first ETF in August 2022, Strive Asset Management, LLC, a direct, wholly-owned subsidiary of Strive, has grown to manage over $2.3 billion in assets. The market has reacted to these announcements by moving the company's shares -2.31% to a price of $0.9481. For the full picture, make sure to review Strive's 8-K report.
