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Bitcoin Treasury Company Strive Plans to Raise $500 Million via New Preferred Shares to Buy More Bitcoin
Bitcoin treasury company Strive ASST announced a new perpetual preferred stock, SATS, with a 15% fixed dividend. The company aims to sell 5 million shares at $100 each, raising $500 million. Proceeds will be used to purchase additional Bitcoin, acquire income-producing assets, or buy back stock. The new SATS shares will be junior to Strive’s existing perpetual preferred stock, SATA, which currently pays a variable rate of 13%. Strive recently acquired 3,311 Bitcoin, bringing its total holdings to 32,773 coins, currently valued at approximately $2.7 billion.
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