Bitcoin treasury company Strive plans to issue Series A perpetual preferred shares to raise $150 million, aiming to increase its Bitcoin holdings and repay debt.

Techub News reports, according to CryptoBriefing, the U.S.-listed bitcoin treasury company Strive announced plans to raise $150 million by issuing Series A Perpetual Preferred Stock (SATA Stock). The funds will be used to reduce outstanding debt, purchase bitcoin and bitcoin-related products, and support company growth. The report mentions that this financing plan follows last week's shareholder approval of Strive's acquisition of Semler Scientific; upon completion of the acquisition, it is expected to add over 5,000 bitcoins to Strive's balance sheet, increasing its bitcoin reserves to 12,798.