Strive plans to raise $150 million by issuing preferred stock to purchase Bitcoin and repay debt

According to market news, the U.S. stock-listed Bitcoin treasury company Strive announced plans to raise $150 million by issuing Series A perpetual preferred stock (SATA Stock).

The company stated that it will use the proceeds to reduce outstanding debt, purchase Bitcoin and Bitcoin-related products, and support company growth. This financing plan follows the approval by shareholders last week for Strive to acquire Semler Scientific. The acquisition is expected to be completed soon and will add over 5,000 Bitcoins to Strive's balance sheet, increasing the company's Bitcoin reserves to 12,798 Bitcoins.