Ramaswamy-backed Strive Plans To Raise $150M To Pay Down Debt & Buy More Bitcoin

Strive, an asset manager co-founded by former US presidential candidate Vivek Ramaswamy in 2022, plans to raise as much as $150 million through an offering of preferred stock, with proceeds earmarked for debt repayment and Bitcoin purchases.

Strive said it plans to sell shares of its Variable Rate Series A Perpetual Preferred Stock, trading under the ticker SATA. The company said the capital raised, alongside existing cash and potential proceeds from unwinding hedging transactions, would be used to pay down liabilities at its wholly owned subsidiary, Semler Scientific.

This includes repurchasing a portion of Semler’s 4.25% convertible senior notes due in 2030, as well as outstanding borrowings under a master loan agreement with Coinbase Credit.

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