ConvertibleActiveBTC
4.25% Convertible Notes due 2030
ASST-Aug30
$10.63â–² 10.27%
BTC Holdings
13,741 BTC
Total Debt
$457.32M
Leverage
0.0%
mNAV
0.75x
Outstanding
$10.00M
Issue date
2025-01-28
Principal
$100.00M
Coupon
4.25%
Maturity
2030-08-01
Conversion price
$72.63
ITM Status
OTM (-85.4%)
- Originally issued by Semler Scientific, Inc. (SMLR); guaranteed by Strive, Inc. via supplemental indenture dated Jan 16, 2026
- Conversion price adjusted from $76.44/SMLR share for 21.05:1 merger exchange ratio and 1:20 reverse split
Terms & Documentation
Terms
- BTC strategy
- Yes
- Ranking
- Senior unsecured
- Settlement
- Issuer election
- Payment frequency
- Semi-annual
- Payment dates
- Feb 1, Aug 1
- Rate type
- Fixed
- Forced conversion
- On or after Aug 4, 2028 if stock >= 130% of conversion price for at least 20 trading days (whether or not consecutive) during any 30 consecutive trading day period, at 100% of principal plus accrued interest
- Put provision
- At 100% of principal plus accrued interest upon fundamental change
- Use of proceeds
- BTC acquisition and general corporate purposes
- Capped call
- Cap price ~$101.67/share (adjusted for merger and 1:20 reverse split; originally ~$107.01/SMLR share)
Sources(3)
- $100M 4.25% Convertible S…Press Release$100M 4.25% Convertible Senior Notes due 2030Semler Scientific, Inc. — 2025-01-24
- Form 8-K (Semler Scientif…FilingForm 8-K (Semler Scientific merger completion, supplemental indenture)Item 1.01supplemental indentureStrive, Inc. — 2026-01-16
- Upsized SATA Offering & S…Press ReleaseUpsized SATA Offering & Semler Notes ExchangeExhibit 99.1notes exchange and retirementStrive Inc. — 2026-01-28
Outstanding History
Outstanding history(2)
| As of | Event | Outstanding | Source |
|---|---|---|---|
| 2026-01-27 | Conversion | $10.00M $90M exchanged for ~930,000 SATA shares | Upsized SATA Offering & S… |
| 2025-01-28 | Issuance | $100.00M Includes $15M overallotment fully exercised | $100M 4.25% Convertible S… |
- 2026-01-27 — $10,000,000Exhibit 99.1 — press_release — Strive Inc.Source
- 2025-01-28 — $100,000,000press_release — Semler Scientific, Inc.Source