Strive Closes $750M PIPE Deal to Power Alpha-Driven BTC Strategy
Powered by @unfolded- Strive successfully closed a $750 million PIPE round, with an option to increase funding by another $750 million through warrant exercises.
- The capital will be used to build Strive's bitcoin treasury and implement strategies to outperform bitcoin, focusing on acquiring undervalued biotech firms and distressed bitcoin claims.
- The PIPE was priced at $1.35 per share, representing a 121% premium over the pre-announcement closing price, and is structured to avoid debt financing.
- CEO Matt Cole will present these strategies at the bitcoin for Corporations Symposium in Las Vegas, with Cantor Fitzgerald & Co. serving as the financial advisor.