Strive, Founded by Vivek Ramaswamy, Unveils $500 Million Preferred Stock Offering Aimed at Bitcoin Acquisition

Strive Inc. Offering: Strive Inc. announced an at-the-market offering to issue up to $500 million of its Variable Rate Series A Perpetual Preferred Stock, with proceeds aimed at purchasing Bitcoin and expanding operations.

Corporate Strategy: The company plans to use the funds for general corporate purposes, including acquiring income-generating assets, as it seeks to enhance its Bitcoin treasury, which currently holds 7,525 BTC valued at approximately $679 million.

Market Performance: Strive's SATA shares experienced a 2.00% increase in after-hours trading, following a regular session close of $90.20, while Bitcoin was trading at $90,167.58, reflecting a 2.68% rise over the last 24 hours.

Background Context: Earlier this year, shareholders approved a reverse merger with Asset Entities Inc., creating a public Bitcoin treasury company with potential funding of $1.5 billion, positioning Strive as a significant player in the cryptocurrency market.