Bitcoin Magazine

Strive ($ASST) Plans $150 Million Follow-On Offering to Buy More Bitcoin, Retire Convertible Notes

Strive announced today that it intends to raise up to $150 million through a follow-on offering of its Variable Rate Series A Perpetual Preferred Stock, known as SATA Stock, subject to market conditions. 

The offering is registered under the Securities Act of 1933 and marks Strive’s latest move to expand its bitcoin holdings while addressing outstanding debt.

Strive plans to use the proceeds from the offering, along with cash on hand and potentially funds from terminating certain derivative contracts tied to convertible debt, to repurchase or redeem all or a portion of the 4.25% Convertible Senior Notes due 2030 issued by its subsidiary Semler Scientific, Inc. 

These Semler Convertible Notes, guaranteed by Strive, were originally issued under an indenture with U.S. Bank Trust Company, National Association acting as trustee. 

Strive wants to buy more bitcoin

The company may also use funds to pay down Semler Scientific’s borrowings under its loan agreements with Coinbase Credit Inc., acquire additional bitcoin and related products, and support general corporate needs.

In addition, Strive is negotiating with some holders of the Semler Convertible Notes to potentially exchange their notes for shares of SATA Stock. 

SATA Stock is structured as a variable-rate, cumulative dividend security with a stated value of $100 per share. Dividends are currently set at an annualized rate of 12.25%, payable monthly, though Strive reserves the right to adjust the rate within certain limits. 

If a dividend is missed, it accrues additional compounded interest, which can rise up to 20% per year. The company intends to manage the dividend rate to help the stock trade within a target range of $95 to $105 per share.

Strive also retains the right to redeem SATA Stock at $110 per share (or higher at its discretion), plus accrued dividends. Redemption can occur at any time, but the company generally cannot redeem less than $50 million of SATA Stock unless a clean-up or tax-related redemption applies.

The liquidation preference for SATA Stock is $100 per share, adjusted daily to the greater of the stated value, the previous trading day’s closing price, or the 10-day average price. 

Strive said that Barclays and Cantor are joint book-running managers for the offering, with Clear Street acting as co-manager.

After SATA briefly hit $100 today, the company’s approach to set a follow-on offering price based on current market conditions is seen as a cleaner alternative to an “at-the-market” (ATM) offering, avoiding dilution and allowing Strive to capitalize on favorable pricing. 

The raised funds will help the company retire legacy convertible debt and expand its Bitcoin holdings, signaling continued commitment to its crypto-focused growth strategy.

This post Strive ($ASST) Plans $150 Million Follow-On Offering to Buy More Bitcoin, Retire Convertible Notes first appeared on Bitcoin Magazine and is written by Micah Zimmerman.

Bitcoin Magazine

Strive ($ASST) Gets Green Light on Semler Scientific Acquisition, Boosts Bitcoin Holdings to Nearly 13,000 BTC

Strive, Inc. announced today that stockholders of Semler Scientific, Inc. approved its acquisition by Strive, marking a landmark deal in publicly traded Bitcoin-backed companies.

The all-stock transaction includes Semler Scientific’s 5,048.1 Bitcoin, significantly expanding Strive’s digital asset holdings.

In addition, the company said they purchased 123 more Bitcoin for its corporate treasury at an average price of $91,561 per coin, for a total cost of approximately $11.26 million, inclusive of fees and expenses, the company said. 

These purchases bring the company’s total Bitcoin holdings to 7,749.8. Following the Semler Scientific acquisition, the combined entity will hold 12,797.9 Bitcoin, surpassing corporate holders such as Tesla and Trump Media & Technology Group to become the 11th largest corporate Bitcoin holder globally, according to the company. 

BREAKING: Vivek Ramaswamy's Strive acquires #Bitcoin company Semler Scientific in an all-stock transaction. pic.twitter.com/aHSjcy34ND

— Bitcoin Magazine (@BitcoinMagazine) January 13, 2026

$ASST also disclosed plans to monetize Semler Scientific’s operating business within 12 months of the transaction’s close and explore opportunities to retire Semler’s $100 million convertible note and $20 million Coinbase loan, subject to market conditions. 

Shares of Strive ($ASST) are down over 17% on the day, but are up over 15% on the month.  

Strive as a bitcoin-focused company

These strategic moves reflect the company’s continued focus on Bitcoin operations and a simplified, preferred equity-focused corporate structure.

“I’m proud of the execution the Strive team has delivered for our shareholders, making history towards completing the first acquisition of a publicly traded Bitcoin treasury company,” said Matt Cole, Chairman and CEO. “The Semler Scientific deal will continue Strive’s leading yield generation since the inception of our Bitcoin strategy, boosting our Q1 2026 Bitcoin yield to over 15%.”

The company also highlighted its successful November 2025 preferred equity IPO, SATA, which was upsized from $125 million to $200 million and received more than twice the subscription demand.

The company plans to issue additional SATA over the next 12 months to fund debt retirement and maintain amplification exclusively through preferred equity.

Jeff Walton, Strive’s Chief Risk Officer, emphasized the unique risk profile of SATA, noting that “the balance sheet is comprised of a transparent, digitally native asset, allowing risk to be observed and measured in real time, unlike traditional illiquid assets.”

As part of the merger, the board approved a 1-for-20 reverse split of Class A and Class B shares to align with institutional investment standards. 

Semler Scientific Executive Chairman Eric Semler will join the Board of Directors post-closing.

This post Strive ($ASST) Gets Green Light on Semler Scientific Acquisition, Boosts Bitcoin Holdings to Nearly 13,000 BTC first appeared on Bitcoin Magazine and is written by Micah Zimmerman.