The company announced further details regarding its Bitcoin accumulation strategy. Starting with initial Bitcoin holdings of 69 Bitcoin (BTC-USD) raised via a 351 exchange, the company raised $750 million in financing with up to an additional $750 million in financing from warrants over the first 12 months. In addition, the company qualified as a well-known-seasoned-issuer for its shelf registration. In conjunction with the WKSI shelf registration, the company announced both a $450M at-the-market offering, in addition to a $500M stock repurchase program to maintain maximum balance sheet flexibility in increasing Bitcoin per share. Strive (ASST) also announced ambitions to leverage its shelf registration to issue a publicly registered perpetual preferred equity security to purchase additional Bitcoin in an accretive manner that the company believes will further amplify the Bitcoin exposure for common equity shareholders, while also offering an attractive risk-adjusted income opportunity through the preferred equity security for yield focused investors.
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