TechFlow news, December 10 — According to Globe Newswire, Bitcoin treasury company Strive, Inc. (Nasdaq: ASST; SATA) announced the launch of an offering of up to $500 million of variable-rate Series A perpetual preferred stock (SATA shares).
Strive intends to use the net proceeds for general corporate purposes, including acquiring Bitcoin and Bitcoin-related products, working capital, purchasing revenue-generating assets to grow its business, other capital expenditures, repurchasing Class A common stock, and repaying debt. The company may also use the proceeds to acquire businesses, assets, or technologies that complement its current operations. As of November 7, the company held approximately 7,525 bitcoins.
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