Strive proposes $150 million preferred stock sale to repay debt, buy bitcoin

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].