Strive plans to issue 12% preferred stock (SATA) to raise funds to expand its Bitcoin holdings.

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Nasdaq-listed asset management firm Strive (ASST) plans to issue 1.25 million new Series Variable Rate Perpetual Preferred Stock (SATA) with an initial annualized dividend of 12%, payable monthly in cash. The proceeds will be used to increase its Bitcoin holdings, expand operations, invest in income-generating assets, provide working capital, or repurchase common stock. The company currently holds approximately 6,000 BTC, which will increase to approximately 11,000 BTC if the all-stock merger with Semler Scientific (SMLR) is completed. (CoinDesk)

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