Strive, Inc. (Nasdaq: SATA) has announced plans for a $150 million follow-on offering of its Variable Rate Series A Perpetual Preferred Stock, known as SATA Stock, as the firm accelerates its push to build one of the largest corporate Bitcoin treasuries in the market.
The offering is designed to simultaneously strengthen Strive’s balance sheet, reduce legacy debt, and fund further Bitcoin accumulation.
How Strive Plans to Use the Proceeds
According to the company, net proceeds from the SATA Stock sale will be allocated across three core priorities.
A portion of the capital will be used to retire existing liabilities, including the 4.25% Convertible Senior Notes due 2030 issued by its subsidiary Semler Scientific, as well as borrowings under a loan agreement with Coinbase Credit Inc..
Another major focus is Bitcoin accumulation. Strive plans to deploy capital directly into additional Bitcoin and Bitcoin-related products, reinforcing its strategy of treating BTC as a core treasury asset rather than a peripheral investment.
The remaining funds will support general corporate purposes, including working capital and operational flexibility as the firm scales.
Semler Scientific Deal Supercharges Bitcoin Exposure
The offering follows recent shareholder approval for Strive’s acquisition of Semler Scientific, a transaction that materially reshapes the company’s balance sheet.
Once completed, the deal is expected to add more than 5,000 BTC to Strive’s treasury, lifting total Bitcoin holdings to approximately 12,798 BTC. At that level, Strive would rank as the 11th largest corporate Bitcoin holder globally, leapfrogging firms such as Tesla and Trump Media & Technology Group.
This positioning places Strive firmly among a growing cohort of companies using Bitcoin as a long-term strategic reserve rather than a short-term speculative asset.
SATA Stock Structure and Yield Profile
The Variable Rate Series A Perpetual Preferred Stock carries a floating annual dividend, currently set at 12.25%, with payments made monthly. The structure is designed to appeal to income-focused investors while giving Strive flexibility, since the stock has no maturity date.
In parallel with the public offering, Strive is negotiating with certain holders of Semler’s convertible notes to exchange debt directly for SATA Stock. These private exchanges would not raise new cash but would immediately reduce debt at the subsidiary level, potentially lowering the final size of the public raise.
Broader Asset Management Context
Beyond its corporate treasury strategy, Strive continues to grow its traditional asset management business. Strive Asset Management, founded by Vivek Ramaswamy, manages more than $2.3 billion in assets across ETFs and investment products as of early 2026.
The SATA Stock offering underscores Strive’s hybrid approach: pairing conventional asset management with an aggressive, balance-sheet-driven Bitcoin strategy. If successful, the transaction would further cement Strive’s position as one of the most Bitcoin-exposed publicly traded firms in the market.
