Strive, co-founded by Vivek Ramaswamy, plans to raise $150 million through preferred stock offering for debt repayment and Bitcoin purchases. The company aims to simplify its balance sheet and return to a “perpetual-preferred only amplification model.” Barclays and Cantor Fitzgerald are joint book-running managers for the offering. Strive previously raised $750 million for “alpha-generating” Bitcoin strategies and announced a $500 million stock sales program for additional BTC purchases.

Strive plans to negotiate private exchanges with Semler convertible note holders to swap debt for SATA preferred shares. The SATA preferred stock has a starting annual dividend rate of 12.25% and can be redeemed at Strive’s option. Strive recently acquired Semler Scientific, adding 5,048.1 Bitcoin to its treasury, with total Bitcoin holdings set to increase to 12,797.9 BTC following the transaction.

Digital asset treasury companies, like Strive, face challenges in 2026 as falling crypto prices may lead to shutdowns. MoreMarkets CEO Altan Tutar predicts failures among altcoin-focused and large-cap strategy firms due to overcrowding and unsustainable valuations above net asset value. Tutar warns that declining share valuations could pressure businesses reliant on holding digital assets.

Read more at Cointelegraph: Ramaswamy-Backed Strive Plans $150M Preferred Stock Raise to Buy Bitcoin