Strive Completes $750 million PIPE Funding to Advance Bitcoin Strategy
2025-05-27 13:04:05
Strive, the asset management firm co-founded by Vivek Ramaswamy, announced the completion of a $750 million public company private equity (PIPE) financing at $1.35 per share, a 121% premium to the closing price of ASST shares in the previous trading day. The transaction also includes $750 million of warrants. If exercised in full, the total financing will reach $1.50 billion. It is reported that the financing does not introduce debt, leaving room for future leverage. It is reported that Strive plans to use the funds to acquire biotech 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.
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