Strive, Inc. (NASDAQ: ASST; SATA) has closed its follow-on offering of 1,320,000 shares of its variable rate series A perpetual preferred stock (SATA stock) at a public offering price of $90 per share. The company initially aimed to raise $150 million but upsized the offering to $225 million due to over $600 million in demand for the SATA stock.
The offering, along with a concurrent exchange of Semler Scientific, Inc. (Semler Scientific) notes, allowed Strive to retire $110 million of the $120 million aggregate principal amount of debt it assumed from the Semler Scientific acquisition. The company intends to retire the remaining $10 million of such debt by April 2026.
Additionally, Strive retired an aggregate of $90 million of the $100 million aggregate principal amount of outstanding 4.25% convertible senior notes due 2030 (the Semler convertible notes) issued by Semler Scientific. This retirement was achieved in exchange for approximately 930,000 shares of SATA stock.
Strive used a portion of the cash proceeds from the offering of SATA stock to retire the legacy Semler Scientific $20 million loan with Coinbase Credit Inc. Following this retirement, 100% of Strive’s bitcoin holdings are unencumbered.
As a result, Strive has demonstrated its ability to manage a bitcoin-powered treasury by retiring over 90% of the Semler legacy debt just 11 days after closing the Semler acquisition, with intentions to retire the remaining debt by April. The company's chairman and CEO, Matt Cole, highlighted the move back to a preferred equity-only amplification structure as an optimal way to finance the amplification of bitcoin.
In terms of its bitcoin holdings, Strive has acquired 333.89 bitcoin at an average price of $89,851, bringing its total holdings to 13,131.82 bitcoin as of January 28, 2026. This positions Strive as the tenth largest public corporate holder of bitcoin globally. The company has an amplification ratio of 37.2%, with 97.7% coming from preferred equity.
Strive’s quarter-to-date bitcoin yield stands at 21.17%, representing the percentage growth of the company’s bitcoin exposure per common share over a period of time.
Ben Werkman, Chief Investment Officer of Strive, emphasized the successful completion of the oversubscribed SATA follow-on offering, reflecting robust and growing investor demand for digital credit. He also highlighted Strive's disciplined and fast-paced execution of its corporate strategy, which has enabled the company to scale from zero bitcoin to become a top-10 publicly traded holder of bitcoin in just over four months.
Strive is the first publicly traded asset management bitcoin treasury company and has approximately 13,131.82 bitcoin as of January 28, 2026. Since launching its first ETF in August 2022, Strive Asset Management, LLC, a wholly owned subsidiary of Strive, has grown to manage over $2.3 billion in assets. Following these announcements, the company's shares moved -2.31%, and are now trading at a price of $0.9481. If you want to know more, read the company's complete 8-K report here.
