Strive closes $225 million stock offering, retires most Semler debt

Strive Inc. (NASDAQ: ASST; SATA) completed a follow-on offering of 1.32 million shares of its Variable Rate Series A Perpetual Preferred Stock at $90 per share, raising $118.8 million in proceeds. The company upsized the initial $150 million target to $225 million when combined with concurrent debt exchanges.

The offering received over $600 million in demand from institutional investors. Strive used the proceeds and note exchanges to retire $110 million of the $120 million in debt assumed from its recent acquisition of Semler Scientific Inc. The company stated it intends to retire the remaining $10 million by April 2026.

As part of the transaction, $90 million of outstanding 4.25% Convertible Senior Notes due 2030 were exchanged for approximately 930,000 shares of SATA Stock. Strive also used cash proceeds to retire a $20 million loan with Coinbase Credit Inc., leaving its Bitcoin holdings unencumbered.

"Strive continues to demonstrate leading execution in managing a world-class, Bitcoin-powered treasury, retiring over 90% of the Semler legacy debt just 11 days after closing the Semler acquisition," said Matt Cole, Chairman and CEO.

The company reported acquiring 333.89 Bitcoin at an average price of $89,851, bringing its total holdings to 13,131.82 Bitcoin as of January 28, 2026. Strive stated it is now the tenth largest public corporate holder of Bitcoin globally.

The company reported an amplification ratio of 37.2% with 97.7% coming from preferred equity and a quarter-to-date Bitcoin yield of 21.17%. Strive Asset Management, a wholly owned subsidiary, manages over $2.3 billion in assets.

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