Digital Asset Treasury (DAT) firm Strive (Nasdaq: ASST) raised some $160 million through an upsized public offering of its Variable Rate Series A Perpetual Preferred Stock, SATA, on Wednesday, November 6. Stive first announced its preferred share initial public offering (IPO) Monday.
The offering marks an expansion of Strive’s capital-raising activities as the company continues to pursue growth initiatives in digital assets and related investments. The company intends to use the funds for accumulation of Bitcoin.
The company priced 2 million shares of the preferred stock at $80 per share. The offering represents an increase of 750,000 shares from the amount previously announced, with the company expecting to close the round November 10.
Preferred stock offers digital asset treasury companies another pathway for capital accumulation on top of the existing common stock and bond offering. Investor interest for preferred stock in DAT firms has held steady following Strategy’s (Nasdaq: MSTR) recent dividend raise on their STRC perpetual preferred stock on September 30. Indeed, Strategy CEO Michael Saylor noted Wednesday on X that STRC closed at a record high with over 1 million shares traded.
ASST is up 22% over the last 5 days, as of publication.
