Important points
- Mr. Vivek Ramaswamy purchased 15,625 shares of Strive Inc.’s floating rate Series A perpetual preferred stock at a price of $80 per share.
- Strive Asset Management, co-founded by Mr. Ramaswamy, positions itself as an “anti-woke” company and is focused on maximizing shareholder value.
Vivek Ramaswamy-backed Strive on Monday announced the successful completion of its oversubscribed initial public offering (IPO) of floating rate series A perpetual preferred stock (SATA shares) on the Nasdaq market, increasing the number of shares from 1.25 million to 2 million shares due to high demand.
According to recent SEC filings, Mr. Ramaswamy purchased 15,625 shares of Strive’s SATA stock. He also owns 113.9 million Class B shares and indirectly holds 28.4 million shares through the Ramaswamy 2021 Irrevocable Trust.
The offer is part of Strive’s strategy to expand its Bitcoin holdings through perpetual preferred stock. The Company plans to use the proceeds of the IPO for general corporate purposes and potentially increase its Bitcoin holdings, thereby increasing the value of ASST’s common stock shareholders.
Backed by notable entrepreneurs such as Peter Thiel, J.D. Vance, and Bill Ackman, Strive is acquiring health tech company Semler Scientific in an all-stock deal. The transaction is subject to customary closing conditions and is expected to result in the creation of a primary Bitcoin treasury entity.
