Bitcoin Treasury Firm Strive Adds 72 BTC to Treasury After Warrant Exercises
Strive, (ASST) has added 72 bitcoin BTC$114,183.19 to its holdings using proceeds from the exercise of traditional warrants issued in connection with its previously disclosed private investment in public equity (“PIPE”) financing transaction, according to an 8-K filing.
The company yesterday purchased approximately 72.3 BTC for about $8.26 million, an average price of $114,303 per coin.
This latest purchase brings Strive’s total bitcoin holdings to roughly 5,958 BTC, acquired at a total cost of $691.3 million, with an average purchase price of $116,032 per bitcoin.
Based on Strive’s previous filings, yesterday's bitcoin purchase was funded through the exercise of approximately 6.11 million traditional warrants at $1.35 per share, generating about $8.26 million in gross proceeds.
These warrants are part of the 555.3 million issued under Strive’s $750 million PIPE financing.
Shares are lower by 13.5% premarket after doubling in the previous two sessions.
Read more: Bitcoin Treasury Company Strive Surges Additional 30%, Nearly Doubling in Two Sessions
Disclaimer: The content of this article solely reflects the author's opinion and does not represent the platform in any capacity. This article is not intended to serve as a reference for making investment decisions.
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