Bitcoin treasury firm Strive has raised $225 million through a preferred stock offering, helping the company reduce debt and increase its bitcoin holdings.
The offering attracted strong investor interest, with orders crossing $600 million, leading Strive to raise more than its original $150 million target.
The funds were mainly used to clean up the balance sheet after Strive’s acquisition of Semler Scientific. The company retired $110 million of Semler’s old debt, including convertible notes and a $20 million loan from Coinbase Credit.
As a result, all of Strive’s bitcoin holdings are now free from any loan obligations.
Strive plans to repay the remaining $10 million in debt by April 2026, well ahead of schedule. The firm also used part of the capital to buy 333.89 bitcoin at an average price of $89,851.
This purchase brings Strive’s total bitcoin holdings to 13,131 BTC, making it the tenth-largest public corporate holder globally. At current prices, these holdings are worth over $1.1 billion.
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