Strive Retires 92% of Acquired Debt, Buys 334 Bitcoins After Preferred Stock Raise
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Bitcoin treasury firm Strive recently said it retired most of its debt after acquiring Semler Scientific and added to its Bitcoin holdings following the completion of a preferred stock offering.
Key Takeaways:
Strive retired 92% of the debt inherited from its Semler Scientific acquisition and bought 334 more bitcoins.
Strong demand boosted the preferred stock offering to $225 million, funded by purchases of bitcoin without leverage.
The company now holds 13,132 BTC worth about $1.17 billion, ranking it among the top corporate bitcoin holders.
The company said Wednesday it retired 92 percent of the debt it inherited in the deal and bought an additional 334 bitcoins after completing a floating-rate Series A permanent preferred stock offering, trading under the symbol “SATA.”
Effort raises preferred stock offering to $225M on strong demand.
Strive reported nearly $600 million in interest for the offering, prompting it to raise its funding amount to $225 million from its original target of $150 million.
Preferred shares are structured as long-term equity financing, allowing the company to issue Bitcoin stock without taking on additional leverage.
The Vivek Ramaswamy-backed firm completed its acquisition of Semler Scientific on January 13, following a merger agreement reached in September. Semler previously operated as a Bitcoin treasury prior to the transaction.
Earlier this month, Strive said it plans to use the proceeds from the offering with existing funds and non-profit funds to reduce liabilities and expand exposure to Bitcoin.
The company confirmed that $110 million of the acquired debt has now been retired, including the exchange of $90 million of convertible notes for SATA stock and full repayment of the $20 million credit facility provided by Coinbase.
Strive, which has been loaned by Coinbase, says its Bitcoin holdings are now fully unpaid. The company added that it plans to eliminate the remaining $10 million in debt over the next four months.
The last bitcoin purchase totaled 333.9 BTC at an average of $89,851, raising Strive's total holdings to 13,132 BTC.
At its current market value, Stash is valued at $1.17 billion, placing Strive among the top 10 corporate Bitcoin treasurers.
Strive also disclosed a 21.2% quarter-to-date Bitcoin yield, a metric it uses to measure the growth of Bitcoin exposure per common share over a period of time.
Despite the balance sheet improvements, the market response has been muted. Shares of Strive fell 2.23 percent to $0.80 on Wednesday, according to Google Finance data.
The stock is down more than 92% from $10.46 after announcing its bitcoin-focused strategy.
Corporate bitcoin treasuries surged in popularity in 2024 and early 2025, but many companies saw their share prices slide as investors questioned the sustainability of the model.
More than 190 publicly traded companies now hold Bitcoin on their balance sheets, owning 1.134 million BTC, or 5.4% of the total supply.
About two-thirds of those holdings are Michael Saylor's strategy, which continues to buy Bitcoin even as the broader market tightens.
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