Key facts
- Strive's preferred stock offering was upsized to $700 million notional value.
- The company sold 7 million shares at $90 per share.
- Proceeds will be used to purchase Bitcoin and for other corporate needs.
- The preferred shares offer a 15% annual dividend.
Bitcoin treasury firm Strive has increased its preferred stock sale to approximately $630 million in gross proceeds, selling 7 million shares of Series A Perpetual SATS Preferred Stock at $90 per share. This upsized offering, which was originally for 5 million shares, is expected to close on October 20. The company intends to use the funds to augment its Bitcoin holdings by purchasing an estimated 35,595 BTC, alongside other corporate needs such as income-generating investments, business expansion, working capital, and potential acquisitions. The newly offered preferred shares carry a 15% annual dividend, with the first payment scheduled for November 9, 2026.