Strive completes $750 million PIPE financing to advance Bitcoin strategy

According to a report by Jinse Finance, the asset management company Strive, co-founded by Vivek Ramaswamy, announced the completion of a $750 million private investment in public equity (PIPE) financing, with an issue price of $1.35 per share, representing a 121% premium over the previous trading day's closing price of ASST stock. The transaction also includes $750 million in warrants, which, if fully exercised, will bring the total financing to $1.5 billion. It is reported that this financing did not introduce any debt, preserving future leverage capacity. Strive plans to use these funds to acquire biotechnology companies, purchase Bitcoin-related distressed assets (such as Mt. Gox claims), and discounted structured Bitcoin credit instruments to build an Alpha-driven Bitcoin asset portfolio.