PANews, December 10—According to Globenewswire, Bitcoin asset reserve company Strive (NASDAQ: ASST; SATA) announced that it has signed a sales agreement. Under the agreement, Strive may issue and sell its Series A Variable Rate Perpetual Preferred Stock, with a par value of $0.001 per share (referred to as “SATA stock”), for a total offering price of up to $500 million (the “ATM Program”). Strive intends to use the net proceeds from the ATM Program for general corporate purposes, including but not limited to: purchasing Bitcoin and Bitcoin-related products, providing working capital, acquiring income-generating assets to expand the company’s business, making other capital expenditures, repurchasing the company’s Class A common stock, and/or repaying debt. Strive may also use these proceeds to fund acquisitions of businesses, assets, or technologies that are complementary to its current business.
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