On Oct. 15, Strive priced seven million shares of its new SATS preferred stock at $90 apiece, despite each share carrying a $100 stated amount and a $15 annual dividend. This puts the implied cash yield at 16.7% for buyers. The offering is expected to raise $630 million before expenses, with settlement scheduled for Oct. 20. Strive plans to use the proceeds to acquire Bitcoin, support its business, buy income-generating assets, or repurchase other shares.