TechFlow news, January 22 — According to Cryptobriefing, publicly traded U.S. Bitcoin treasury company Strive announced plans to raise $150 million through the issuance of Series A perpetual preferred stock (SATA Stock). The company stated it will use the proceeds to reduce outstanding debt, purchase Bitcoin and Bitcoin-related products, and support corporate growth.
This fundraising initiative follows last week's shareholder approval of Strive's acquisition of Semler Scientific. The acquisition is expected to close soon, adding over 5,000 Bitcoin to Strive’s balance sheet and increasing its total Bitcoin holdings to 12,798 BTC.
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