Quick Breakdown
- Strive, Inc. has announced a $150 million follow-on offering of its Series A Perpetual Preferred Stock (SATA) to fund aggressive Bitcoin acquisitions.
- The capital raise aims to retire outstanding debt from subsidiary Semler Scientific, including convertible notes and a Coinbase Credit loan.
- This move follows Strive’s SATA stock hitting its $100 par value, a key financial milestone that enables the company to scale its “perpetual-preferred” amplification model.
Strive, Inc. (Nasdaq: SATA), the first publicly traded asset management Bitcoin treasury company, announced on Wednesday, 21 January 2026, its intention to launch a $150 million follow-on offering of its Variable Rate Series A Perpetual Preferred Stock (SATA). The company intends to leverage the proceeds to purchase additional Bitcoin and streamline its balance sheet by retiring legacy debt.
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Strive Issues $150 Million in Preferred Stock, Aims to Increase Bitcoin Holdings to 12,800, Ranking Among Top 11 GloballyOn January 22, Strive announced the issuance of $150 million in variable-rate perpetual preferred stock. The… pic.twitter.com/QkHT0oCmGB
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This strategic capital raise is triggered by a significant market milestone: the SATA stock reaching its $100 par value. Trading at or above par allows Strive to issue new shares through at-the-market (ATM) channels without diluting existing common shareholders, providing a “war chest” for digital asset accumulation.
Strategic debt retirement and Bitcoin yield
A primary objective of the $150 million offering is the redemption of 4.25% Convertible Senior Notes due 2030, originally issued by Semler Scientific, a subsidiary. Strive is also negotiating with note holders to exchange their debt directly for SATA stock, which could reduce the final size of the cash offering.
By retiring these notes and a loan from Coinbase Credit Inc., Strive aims to return to what it calls a “perpetual-preferred only amplification model”. The SATA stock carries a regular dividend rate of 12.25% per annum, with the first payments scheduled for 15 February 2026. Strive plans to maintain a 12-month dividend reserve to ensure stability for institutional investors.
Strive’s path to the 11th largest Bitcoin holder
Strive’s aggressive expansion follows its successful acquisition of Semler Scientific earlier this month. This merger combined the Bitcoin treasuries of both firms, bringing Strive’s total holdings to approximately 12,797 BTC as of 16 January 2026. This total surpasses the assets of major entities such as Tesla and Trump Media & Technology Group, positioning Strive as the 11th-largest corporate Bitcoin holder globally. This aggressive expansion aligns with Strive’s earlier, ambitious goal to build a 75,000 BTC treasury. The May 2025 plan involved acquiring distressed Bitcoin claims from the Mt. Gox bankruptcy to boost its Bitcoin-per-share ratio.
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