Strive raises $150 million in preferred shares to restructure debt and expand bitcoin cash

Asset and treasury management company Strive is taking a major step in its expansion by announcing a new $150 million issue. This financial operation, deployed over several hours of international trading, meets a triple objective: to refinance the debt inherited from its recent acquisition, to strengthen its positions in bitcoin and to support its current activities.

Strive restructures its financing strategy

The issue is for Series A floating rate perpetual preferred shares, known as SATA. The revenues collected will be allocated to several strategic uses. First, they will allow Strive to partially redeem or exchange convertible notes issued by Semler Scientific, the company that Strive integrated in the course of 2025 as part of a pioneering merger between two bitcoin treasury managers.

At the same time, these funds will also be used to settle the loans that Semler Scientific had taken out with Coinbase Credit before its acquisition. This restructuring allows Strive to consolidate its position as one of the top ten Bitcoin holders in the publicly traded industry.

SATA shares are distinguished by an attractive distribution mechanism. It pays cumulative monthly dividends, valued at $100 for the calculation of distributions. The initial annual payout ratio is 12.25%, with the flexibility to revise downwards under strict conditions. The management team’s goal is for a long-term price range of between $95 and $105. Unpaid dividends accumulate monthly, with yields that can increase by up to 20% per year in the event of a discrepancy.

Beyond the public offering, Strive is also negotiating private exchanges with certain convertible note holders. These discussions aim to convert all or part of their debts into SATA shares. These private transactions, which are exempt from registration and do not generate additional cash flows, would potentially reduce the volume of the complementary offering.

The digital asset market remains volatile

While Strive continues its financial expansion, the overall cryptocurrency market is going through a correction phase. Bitcoin has fallen 4.94% over the past twenty-four hours, settling around $85,250. This dynamic reflects a broader wave of caution in the face of macroeconomic risks.

Dogecoin is under even more pressure, with a 5.34% drop in the same time frame, quoting at $0.12. The memecoin token has broken through a major technical support level at $0.1218 with significant volume, turning this level into short-term resistance after a brief rebound to around $0.115.

Traders are now closely monitoring the pivotal zone between $0.115 and $0.12. A hold and recovery above the $0.1218 threshold would suggest a short-term stabilization. Conversely, a break below $0.115 would open the door to a further decline towards the $0.108 to $0.10 levels.

The Changing Digital Asset Ecosystem

Beyond the challenges of supply and demand, the industry is observing the emergence of new economic models. Brands native to the digital asset industry, such as Pudgy Penguins, are looking to position themselves as multi-industry IP platforms. These initiatives incorporate physical elements, business partnerships, games, and widely distributed tokens, marking a transition from the initial positioning of “digital luxury goods” to larger, engaged ecosystems.

CoinDesk, the leading news outlet covering the industry, continues to document these transformations through rigorous and unbiased editorial coverage.