Strive, Inc. announced today that it has closed an upsized and oversubscribed follow-on offering of its Variable Rate Series A Perpetual Preferred Stock, raising $225 million amid strong institutional demand and accelerating the retirement of legacy debt from its Semler Scientific acquisition.

The Dallas-based firm said it sold 1.32 million shares of the preferred stock — known as SATA — at $90 per share, after demand exceeded $600 million. The offering was initially targeted at $150 million before being increased alongside a series of privately negotiated note exchanges.

As part of the transaction, Strive retired $110 million of the $120 million in debt assumed from Semler…

Read more on BitcoinMagazine