Group 1 - The coin experienced a significant decline of approximately -20% over the past week before a rebound on February 6, 2026 [1] - Binary Tree Analytics (BTA) aims to enhance transparency and analytics in capital markets, focusing on Closed-End Funds (CEFs), Exchange-Traded Funds (ETFs), and Special Situations [1] - BTA has over 20 years of investment experience and seeks to deliver high annualized returns with a low volatility profile [1]

Strive Inc. (NASDAQ:ASST) is one of the best fast growing penny stocks to buy according to analysts. On January 21, Maxim Group reiterated a Buy rating for Strive. The firm also maintained a price target of $1.50 on the company’s shares. In other news, on January 16, Strive announced the acquisition of Semler Scientific, which is a move that establishes Strive as the 11th largest public corporate holder of Bitcoin globally with a treasury of approximately 12,797.9 BTC. Alongside the acquisition, Strive ex ...

On January 14, Lale Akoner, global market analyst at eToro, appeared on CNBC to state that 2026 is driven by rotation into small caps and advised diversification. Recent data from BofA showed that customers had been selling equities over the six weeks leading up to that point, alongside observed outflows from ETFs that had previously seen consistent inflows. Akoner interpreted this not as a broad move away from risk assets, but rather as a significant rotation within the risk asset class. The shift is drive ...

Bitcoin treasury companyStrive (NASDAQ: ASST) closed its upsized follow-on offering of its preferred stock SATA on Wednesday, retiring 92% of the debt assumed from its acquisition of Semler Scientific. Strive upsized its raise from $150 million to $225 million. The total raised includes a $90 million note exchange, where Strive issued 930,000 shares of SATA to extinguish $90 million from a $100 million, 4.25% convertible note due 2030 that it inherited from Semler Scientific. Want more stories like this? ...

Core Viewpoint - Strive, Inc. successfully closed a follow-on offering of 1,320,000 shares of its Variable Rate Series A Perpetual Preferred Stock at a price of $90 per share, reflecting strong investor demand and a strategic move to manage its debt effectively [1][2]. Group 1: Offering Details - The follow-on offering generated over $600 million in demand, leading to an increase in the target raise from $150 million to $225 million [2]. - The company retired $110 million of the $120 million debt from the Semler Scientific acquisition, with plans to retire the remaining $10 million by April 2026 [2]. Group 2: Debt Management - Strive retired $90 million of the $100 million outstanding 4.25% Convertible Senior Notes due 2030 through an exchange for approximately 930,000 shares of SATA Stock [3]. - A portion of the proceeds from the SATA Stock offering was used to retire a $20 million loan with Coinbase Credit Inc., resulting in 100% of Strive's Bitcoin holdings being unencumbered [3]. Group 3: Bitcoin Holdings and Performance - As of January 28, 2026, Strive acquired 333.89 Bitcoin at an average price of $89,851, bringing its total Bitcoin holdings to 13,131.82, making it the tenth largest public corporate holder of Bitcoin globally [4]. - Strive's amplification ratio is 37.2%, with 97.7% derived from preferred equity, and the quarter-to-date Bitcoin yield stands at 21.17% [4]. Group 4: Company Growth and Strategy - The successful completion of the oversubscribed SATA follow-on offering indicates robust investor demand for digital credit and highlights the effective execution of Strive's corporate strategy [5]. - Since launching its first ETF in August 2022, Strive Asset Management has grown to manage over $2.3 billion in assets [6].

Core Insights - A novel financial structure is emerging among Bitcoin-holding institutions, exemplified by Strive's expansion of perpetual preferred stock (SATA) issuance to replace fixed-term convertible bonds [1][3] - This "perpetual stock scheme" provides a standardized template for institutions deeply anchored in Bitcoin to eliminate refinancing risks and manage long-term leverage [1][3] Financial Restructuring - Strive has increased the issuance of SATA to over $150 million, intending to use it to repay convertible senior bonds maturing in 2030 [1][3] - Approximately 930,000 newly issued preferred shares will be directly used for debt exchange, while remaining funds will repay Coinbase credit lines and further increase Bitcoin holdings [1][3] - Converting fixed-term debt obligations into perpetual preferred stock significantly improves leverage metrics in financial statements and offers more flexible capital allocation [1][3] Implications for Other Companies - The successful application of this financial structure serves as a reference for Strategy (MSTR) in managing its substantial debt load, which includes approximately $8.3 billion in outstanding convertible bonds [2][4] - The most notable bond is a $3 billion issue maturing in June 2028, with an exercise price of $672.40, significantly higher than the current market price of about $160, reducing the likelihood of bondholder conversion [2][4] - Introducing a similar preferred stock model allows bondholders to exchange their conversion rights for higher-yielding, liquid perpetual instruments, which is crucial for addressing future concentrated repayment risks [2][4] Macro Capital Efficiency - The shift from debt to equity reflects a deep exploration of financing tool innovation among Bitcoin treasury companies [2][4] - Preferred stock ranks above common stock in the repayment hierarchy but is treated as equity rather than debt under accounting standards, which is vital for companies holding high-volatility assets long-term [2][4] - As the market re-prices long-term credit premiums, this financial engineering that smooths debt duration will mark an important milestone in the maturation of Bitcoin treasury strategies, helping companies build more resilient capital structures without sacrificing core asset positions [2][4]

Core Viewpoint - Strive is utilizing perpetual preferred equity to retire convertible debt and restructure its balance sheet, which may serve as a model for Strategy in the future [1]. Group 1: Financial Transactions - Strive priced a follow-on offering of its Variable Rate Series A Perpetual Preferred Stock SATA at $90 per share, increasing the transaction size from the initially announced $150 million to allow for the issuance of up to 2.25 million SATA shares [2]. - The net proceeds from this offering will be used to pay down Semler Scientific's 4.25% Convertible Senior Notes due 2030, with plans to enter exchange agreements with noteholders representing $90 million in aggregate principal [3]. - Approximately 930,000 newly issued SATA shares will be exchanged directly for the convertible notes, with remaining proceeds expected to redeem or repurchase any outstanding Semler convertibles and repay borrowings under Semler Scientific's Coinbase Credit facility [4]. Group 2: Debt Restructuring Strategy - Strive is converting fixed-maturity obligations into perpetual preferreds instead of refinancing or rolling over dated debt, with SATA offering a variable dividend currently set at 12.25% and no maturity or conversion feature [5]. - This strategy improves reported leverage metrics and flexibility, as preferred shares are treated as equity rather than debt, providing bondholders with a higher-yielding, perpetual, and fully liquid instrument [5]. - Strategy has approximately $8.3 billion of outstanding convertible notes, with the largest portion being a $3 billion tranche due June 2, 2028, at a conversion price significantly above the current share price [6]. Group 3: Future Implications - The use of preferred equity to retire or exchange debt could provide executive chairman Michael Saylor with an additional method to mitigate future maturity risk [7].

Core Viewpoint - Strive, Inc. has announced a follow-on offering of 1,320,000 shares of its Variable Rate Series A Perpetual Preferred Stock at an offering price of $90 per share, which is an increase from the previously announced $150 million transaction size [1][2]. Group 1: Offering Details - The total issuance represents up to 2.25 million shares of SATA [1]. - The offering proceeds will be used to finance the redemption and repayment of Semler Convertible Notes, acquire bitcoin and bitcoin-related products, and for working capital [2][3]. - Strive plans to enter into exchange agreements with holders of Semler Convertible Notes, exchanging $90 million principal amount for approximately 930,000 new shares of SATA Stock [3]. Group 2: Dividend Structure - The SATA Stock accumulates cumulative dividends at a variable rate of 12.25% per annum on a stated amount of $100 per share, payable monthly in arrears starting February 15, 2026 [4][5]. - Strive has the discretion to adjust the monthly regular dividend rate, subject to certain restrictions, and intends to maintain the stock price within a long-term range of $95 to $105 per share [4][6]. Group 3: Redemption Rights - Strive has the right to redeem all or any number of shares of SATA Stock at a cash redemption price of $110 per share, plus any accumulated and unpaid dividends [7]. - Redemption can occur if the total number of outstanding shares falls below 25% of the total shares issued or if certain tax events occur [7][8]. Group 4: Company Background - Strive is the first publicly traded asset management Bitcoin treasury company, holding approximately 12,797.6 bitcoin as of January 16, 2026, and managing over $2.3 billion in assets since launching its first ETF in August 2022 [13].

Core Viewpoint - Strive plans to raise $150 million through a follow-on sale of its Variable Rate Series A Perpetual Preferred Stock, SATA, to manage debt and acquire more bitcoin [1][2]. Group 1: Financial Strategy - The proceeds from the SATA sale will be used to repay or repurchase portions of debt from Semler Scientific, which Strive acquired in an all-stock transaction [1]. - Funds will also be allocated to discharge Semler's borrowings from Coinbase Credit and to facilitate further bitcoin acquisitions [1]. Group 2: Stock and Dividend Information - SATA stock is valued at $100 for dividend calculations, with an initial annual payout rate of 12.25%, which can be adjusted downward within strict limits [3]. - Unpaid dividends on SATA compound monthly and can increase up to 20% annually [3]. - As of the latest trading session, SATA stock closed at $99.50, while Strive's common shares increased by 0.8% to 89 cents [3]. Group 3: Negotiations and Market Position - Strive is negotiating private exchanges with certain noteholders to swap convertible notes for SATA stock, which would be exempt from registration and not generate cash proceeds [2]. - Strive holds the 11th-largest bitcoin stash among publicly traded companies, indicating a significant position in the market [2].

Core Viewpoint - Strive, Inc. plans to conduct a $150 million follow-on offering of its Variable Rate Series A Perpetual Preferred Stock (SATA Stock) to finance various corporate activities, including the redemption of convertible notes and acquisition of bitcoin-related products [1][2]. Group 1: Offering Details - The offering will be registered under the Securities Act of 1933 and is subject to market conditions [1]. - Strive intends to use the net proceeds to finance the redemption and repayment of Semler Convertible Notes, acquire bitcoin, and for general corporate purposes [2]. - The company is negotiating exchanges of Semler Convertible Notes for SATA Stock, which may reduce the size of the follow-on offering [3]. Group 2: Dividend Structure - SATA Stock accumulates cumulative dividends at a variable rate of 12.25% per annum, payable monthly in arrears starting February 15, 2026 [4]. - Strive has the discretion to adjust the monthly regular dividend rate, subject to certain restrictions [4]. - If regular dividends are unpaid, compounded dividends will accumulate at a rate of 12.25% plus 25 basis points, increasing by 25 basis points per month up to a maximum of 20% per annum [4]. Group 3: Redemption Rights - Strive has the right to redeem SATA Stock at a cash price of $110 per share, plus any accumulated dividends [6]. - The company can initiate a "clean-up redemption" if the total outstanding shares fall below 25% of the initial offering [6]. - Holders of SATA Stock have the right to require Strive to repurchase shares at a cash price equal to the stated amount plus accumulated dividends in the event of a "fundamental change" [7]. Group 4: Financial Position - Strive established an initial dividend reserve of $12.00 per share at the IPO Closing and plans to increase it to $12.25 per share with the new offering [5]. - As of January 16, 2026, Strive holds approximately 12,797.6 bitcoin and manages over $2.3 billion in assets [12]. Group 5: Management and Advisors - Barclays and Cantor are acting as joint book-running managers for the offering, with Clear Street as a co-manager [9]. - The offering is being made under an effective shelf registration statement filed with the SEC [10].