Strive Inc. (NASDAQ: SATA) announced the pricing of 1.32 million shares of its Variable Rate Series A Perpetual Preferred Stock at $90 per share, raising approximately $118.8 million in a follow-on offering.
The company also expects to enter into privately negotiated exchanges with holders of $90 million in convertible notes issued by its subsidiary Semler Scientific Inc. Under these agreements, noteholders would exchange their securities for approximately 930,000 newly issued SATA Stock shares.
Strive plans to use proceeds to redeem or repurchase the Semler convertible notes and related borrowings, acquire bitcoin and bitcoin-related products, and for working capital purposes. The company holds approximately 12,797.6 bitcoin as of January 16, 2026.
The SATA Stock carries a variable dividend rate starting at 12.25% annually, payable monthly beginning February 15, 2026. Strive maintains the right to adjust this rate subject to certain restrictions, including limitations on reductions and timing constraints.
The preferred shares have a $100 stated value and $110 redemption price. Holders can require repurchase at $100 per share plus accumulated dividends upon certain fundamental change events. The company may redeem all shares at any time at $110 per share plus accumulated dividends.
Barclays and Cantor serve as joint book-running managers for the offering, with Clear Street as co-manager. The offering is being conducted under an effective shelf registration statement filed with the Securities and Exchange Commission.
Information is based on a company press release.
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