Strive Raises $630M Through SATS Offering With 15% Annual Dividend

Strive Raises $630 Million, but Its Next Bitcoin Buy Is Still an Open Question

Strive’s upsized SATS preferred-stock offering raised about $630 million, but the company’s own filing lists several possible uses for the cash—including, but not limited to, Bitcoin.

Bitcoin Treasury Strive Debuts New Preferred Stock

Bitcoin treasury Strive’s preferred stock, SATS, is now trading on the Nasdaq, according to the company.  The stock debuted Tuesday and will pay a 15% dividend every business day, according to an announcement.  Nasdaq-listed Strive said it closed its upsized initial public offering of 7,000,000 shares of SATS at a public offering price of $90 per share.  JUST IN: 🇺🇸 Strive’s ‘SATS’ has officially IPO’d on the Nasdaq, and is raising $630 millio…

Strive Raises $630M In SATS IPO For Bitcoin Buys

Strive, the Bitcoin treasury company led by chairman and CEO Matt Cole, closed its upsized initial public offering of SATS preferred stock on Oct. 20, raising

Strive Raises $630M Through SATS Offering With 15% Annual Dividend

Strive completed a $630 million preferred stock offering on October 20, selling seven million SATS shares at $90 each. The security carries a fixed 15% annual dividend, with payments subject to board approval. The company listed Bitcoin purchases and other corporate investments among potential uses of the proceeds.

Strive Raises $630M With New SATS Stock Offering 15% Annual Dividends

TL;DR: Strive raised $630 million in gross proceeds through the issuance of 7 million shares of SATS stock at an offering price of $90 per share. The preferred instrument establishes a fixed 15% annual dividend calculated on a stated liquidation preference of $100 per share. The company maintains a $157.5 million liquidity reserve to secure ...