The Strive plan raises $150 million through the issuance of preferred shares to purchase Bitcoin and repay debt.

BlockBeats News, January 22 — According to Cryptobriefing, the U.S.-listed Bitcoin treasury company Strive announced plans to raise $150 million through the issuance of Series A Perpetual Preferred Stock (SATA Stock). The company stated that the proceeds will be used to reduce outstanding debt, purchase Bitcoin and Bitcoin-related products, and support company growth.

This financing plan follows last week's shareholder approval for Strive to acquire Semler Scientific. The acquisition is expected to be completed soon and will add over 5,000 Bitcoins to Strive's balance sheet, increasing the company's Bitcoin reserves to 12,798 Bitcoins.