Quick take:
- The asset management company could raise an additional $750 million bringing the total to $1.5 billion upon warrant exercise.
- Strive plans to use the funds to support acquisitions of Bitcoin firms, distressed Bitcoin claims like Mt. Gox and discounted structured Bitcoin credit, among others.
- The announcement follows last week’s news when Strive said it was looking at Mt. Gox’s $7.9 Bitcoin claims as part of its strategy for building a Bitcoin treasury.
Strive Asset Management has secured a $750 million deal in a private investment in a public company (PIPE) offering.
It follows Strive’s announcement last week that it is eyeing Last week, the company announced it was eyeing Mt. Gox’s $7.9 Bitcoin claims as it looks to go public via a merger with Asset Entities (ASST) as part of its strategy for building a Bitcoin treasury.
The PIPE offering was closed at $1.35 per share, reflecting a 121% premium on the ASST stock, prior to closing price.
The fundraising also features an exercisable warrant that would see the asset management company bag an additional $750 million, bringing the total raised to $1.5 billion, according to the report by CoinDesk.
Strive plans to use the fresh capital to support acquisitions of Bitcoin firms, distressed Bitcoin claims like Mt. Gox and discounted structured Bitcoin credit, among others.Â
Founded by Vivek Ramaswamy Strive will deploy the funds in alpha-generating strategies aimed at outperforming Bitcoin.
The announcement comes as more companies explore options for tapping into digital assets, especially Bitcoin.
Trump Media and Technology Group, the organisation behind, Truth Social, Truth.Fi and other ventures said it plans to build a Bitcoin treasury worth $2.5 billion, following a successful fundraising that combined a PIPE and a convertible note offer.
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