The Strive plan to raise $150 million through the issuance of preferred shares to purchase Bitcoin and repay debt

BlockBeats News, January 22nd, according to Cryptobriefing, Strive, a publicly traded Bitcoin treasury company, announced plans to raise $150 million through the issuance of Series A Perpetual Preferred Stock (SATA Stock). The company stated that the funds raised will be used to reduce outstanding debt, purchase Bitcoin and Bitcoin-related products, and support corporate growth.

This financing plan comes shortly after shareholder approval of Strive's acquisition of Semler Scientific last week. The acquisition, expected to be completed soon, will add over 5,000 bitcoins to Strive's balance sheet, increasing the company's Bitcoin reserve to 12,798 bitcoins.