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Strive, Inc. (NASDAQ:ASST) announced Monday that it purchased approximately 1,567.2 bitcoin between October 28 and November 9. The company reported an average purchase price of $103,315.46 per bitcoin, with a total acquisition cost of $161,912,220 including fees and expenses. This bitcoin investment represents more than the company’s entire market capitalization of $140.93 million, according to InvestingPro data.
According to the company’s statement, the bitcoin acquisitions were funded using net proceeds from the issuance of 2,000,000 shares of its Variable Rate Series A Perpetual Preferred Stock (NASDAQ:SATA) and from the exercise of traditional warrants related to a previously disclosed private investment in public equity financing transaction.
Following these transactions, Strive’s total bitcoin holdings have increased to about 7,525 bitcoin. The company stated its cumulative acquisition cost for these holdings is $853,218,300, with an average acquisition price of $113,384.18 per bitcoin.
The information in this article is based on a press release statement included in Strive’s recent filing with the Securities and Exchange Commission.
In other recent news, Strive, Inc. announced the pricing of its upsized initial public offering, raising approximately $160 million through the sale of 2 million shares of Variable Rate Series A Perpetual Preferred Stock at $80 per share. This marks an increase from the previously planned 1.25 million shares. The company intends to use the proceeds for various corporate purposes, including bitcoin acquisitions and potential debt repayment. In another development, Strive’s board and stockholders approved amendments to remove the maximum number of directors allowed on its board, effective December 31, 2025. Additionally, Strive filed a prospectus for the potential resale of up to 1.28 billion shares of its Class A common stock by certain securityholders, with no proceeds going to the company. The firm also appointed Ben Werkman, a Bitcoin advocate, as its new Chief Investment Officer. Werkman comes with extensive experience from Swan Bitcoin and KPMG. These updates reflect Strive’s strategic moves to enhance its financial and governance structures.
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