Strive bought 3,311 BTC over the past week, lifting its holdings to 32,773 BTC. CEO Matt Cole also reported $208 million in warrant exercises ahead of a Tuesday deadline and a binding $100 minimum issuance price for SATA preferred shares.
Nasdaq-listed Bitcoin treasury company Strive purchased another 3,311 BTC over the past week, bringing its total holdings to 32,773 Bitcoin. The purchase raised its balance from 29,462 BTC.
Cole announced the buy on October 13. Based on the previous holdings, the acquisition increased the balance by approximately 11.2%, though Strive did not disclose the total cost or average price.
Warrant deadline arrives
Alongside the purchase, Cole said investors had exercised $208 million in warrants. About 15.3 million remained outstanding, and holders had to exercise them by 5 p.m. Eastern Time on October 13.
Earlier SEC filings set an exercise price of $27 per share for the warrants, adjusted for the company's previous reverse stock split. Strive has not said how much of the $208 million funded the latest Bitcoin purchase.
SATA price floor becomes binding
Cole also confirmed that the $100 minimum issuance price for SATA, Strive's Variable Rate Series A Perpetual Preferred Stock, is now written into the company's governing documents. In March, Strive had announced it would not issue SATA shares below $100 through its at-the-market or follow-on offering programs.
The preferred shares pay cash dividend distributions, and proceeds from new issuances can support the company's capital allocation. In September, the board kept the annual SATA dividend rate at 13% for periods beginning October 1.
Semler deal built the base
The company's Bitcoin position grew through market purchases and its January acquisition of Semler Scientific. CryptoPotato reports the latest buy is now the second largest in Strive's rankings, behind only the Semler merger.
Sources: crypto.news, CryptoPotato
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