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Strive Raises $150 Million Through Series A Preferred Share Issuance

The firm issued 1.32 million Series A perpetual preferred shares priced at $90 each and arranged a $90 million Semler convertible note exchange.

Summary

Strive announced it has raised $150 million from an upsized issuance of 1.32 million Series A perpetual preferred shares at $90 per share. The company also entered into a $90 million exchange involving Semler convertible notes, resulting in the creation of 930,000 new shares.

Terms & Concepts
  • Perpetual Preferred Shares: A class of preferred stock with no maturity date, providing ongoing dividend payments until redeemed or liquidated.
  • Convertible Notes: Debt instruments that can be converted into equity shares of the issuing company under certain conditions.
  • Exchange Offering: A financial transaction where existing securities are exchanged for newly issued equity or debt instruments.