**Key Takeaways**
Vivek Ramaswamy purchased 15,625 shares of Strive Inc.’s Variable Rate Series A Perpetual Preferred Stock at $80 per share. Strive Asset Management, co-founded by Ramaswamy, positions itself as ‘anti-woke’ and focuses on maximizing shareholder value.
Strive, backed by Vivek Ramaswamy, announced on Monday that it had successfully closed its oversubscribed initial public offering (IPO) of its Variable Rate Series A Perpetual Preferred Stock (SATA Stock) on Nasdaq. Due to high demand, the number of shares offered was increased from 1.25 million to 2 million.
According to a recent SEC filing, Ramaswamy purchased 15,625 shares of Strive’s SATA Stock. Additionally, he owns 113.9 million Class B shares and indirectly holds 28.4 million shares through the Ramaswamy 2021 Irrevocable Trust.
The offering forms part of Strive’s strategy to amplify its Bitcoin holdings through perpetual preferred equity. The company plans to use the IPO proceeds for general corporate purposes and to potentially increase its Bitcoin holdings, aiming to boost value for ASST common equity shareholders.
Backed by prominent entrepreneurs including Peter Thiel, JD Vance, and Bill Ackman, Strive is acquiring health-tech firm Semler Scientific in an all-stock transaction. This deal, subject to customary closing conditions, is expected to establish a major Bitcoin treasury entity.
https://bitcoinethereumnews.com/tech/strive-raises-160m-in-oversubscribed-sata-ipo-as-vivek-ramaswamy-buys-in/