Strive proposes $150M follow-on offering of SATA perpetual preferred stock

Strive, Inc.

Strive announces $150M follow-on offering of Variable Rate Series A Perpetual Preferred Stock (SATA).
Proceeds to redeem 4.25% Semler Convertible Notes due 2030, repay Coinbase loan, acquire bitcoin, and for working capital.
Negotiating exchange of Semler Convertible Notes for SATA Stock; offering not contingent on exchange.
Initial dividend rate 12.25% p.a., adjustable; intent to keep SATA trading near $95-$105 per share.
Barclays and Cantor acting as joint book-running managers; Clear Street as co-manager.

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