Key facts
- Strive targets $630 million in gross proceeds from the SATS preferred stock offering.
- The preferred shares carry a 15% annual cumulative dividend on a $100 stated value.
- Strive's Bitcoin holdings now total 35,595 BTC.
- The company recently purchased 3,311 Bitcoin, bringing its holdings to 32,773 BTC.
Strive has priced its SATS preferred stock offering at $90 per share, aiming to raise approximately $630 million in gross proceeds. The company intends to use the funds for further Bitcoin purchases, working capital, income-generating assets, business expenses, and potential share repurchases. The new preferred shares will carry a 15% annual cumulative dividend, with payments planned to begin daily starting November 9, subject to board approval. Strive's Bitcoin holdings have grown to 35,595 BTC following recent acquisitions, positioning it as the fourth-largest publicly traded Bitcoin treasury company.