Strive launches $500 million ATM financing plan, with part of the net proceeds to be used for purchasing Bitcoin

[Strive Launches $500 Million ATM Financing Plan, Part of Net Proceeds to Be Used for Bitcoin Purchases] Bitcoin asset reserve company Strive (NASDAQ: ASST; SATA) announced that it has signed a sales agreement. Under this agreement, Strive may issue and sell its Series A Variable Rate Perpetual Preferred Stock, with a par value of $0.001 per share (“SATA Stock”), for a total offering price of up to $500 million (“ATM Plan”).

Strive intends to use the net proceeds from the ATM Plan for general corporate purposes, including but not limited to: purchasing Bitcoin and Bitcoin-related products, working capital, acquiring income-generating assets to expand company operations, other capital expenditures, repurchasing the company’s Class A common stock, and/or repaying debt. Strive may also use these proceeds to fund the acquisition of businesses, assets, or technologies that are complementary to its current operations.