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Strive raises $630 million in Nasdaq debut of 15% preferred stock SATS

Bitcoin treasury firm Strive has completed a $630 million Nasdaq offering of its 15% Series A Perpetual Preferred Stock under the ticker SATS, aiming to buy more Bitcoin and income-generating assets.

Stock chart showing the first day of trading for Strive 15% Series A Perpetual SATS Preferred Stock on Nasdaq, closing at $94.65.
Image: @AdamBLiv

Bitcoin treasury company Strive has officially launched its SATS preferred stock on the Nasdaq following a $630 million initial public offering. The offering, structured as 15% Series A Perpetual Preferred Stock, pays a 15% dividend and generated roughly $75 million in dollar volume across 800,600 shares on its first day of public trading, closing at $94.65.[1][2][3][5]

The company plans to use proceeds from the raise to acquire more Bitcoin alongside income-generating assets, though Strive has not disclosed the exact share earmarked for cryptocurrency purchases, according to Cointelegraph. If fully allocated to Bitcoin, the net proceeds could purchase approximately 7,372 BTC, a sum that could surpass the corporate reserves of Metaplanet.[3][4][5]

Following the launch, Strive Chief Risk Officer Jeff Walton joined Bitcoin Magazine's BMTV broadcast to discuss the listing and the capital raise.[3]

Key facts

  • Strive raised $630 million in an initial public offering of preferred stock listed on the Nasdaq under the ticker SATS.
  • The security is titled Strive, Inc. 15% Series A Perpetual SATS Preferred Stock and carries a 15% dividend.
  • Proceeds are intended to buy additional Bitcoin and income-generating assets, but Strive did not specify the exact allocation to Bitcoin.
  • Cointelegraph reported that net proceeds could purchase an estimated 7,372 BTC if fully deployed, potentially surpassing Metaplanet's holdings.
  • SATS ended its first day of trading at $94.65, up $1.85, with 800,600 shares traded representing roughly $75 million in volume.
  • Strive Chief Risk Officer Jeff Walton appeared on Bitcoin Magazine's BMTV broadcast in connection with the launch.

Sources · 5 sources

  1. AL

    Adam Livingston@AdamBLivPost on X ·

    Day one of public $SATS trading: 800,600 shares traded ~$75 million in dollar volume $94.65 closing price $SATS https://t.co/FK66syzpDg

    Open source
  2. BC

    Bitcoin.com News@BitcoinNewsPost on X ·

    Bitcoin Firm Strive Launches SATS Stock With 15% Dividend After Raising $630M https://t.co/rWo9A3tu3x

    Open source
  3. BM

    Bitcoin Magazine@BitcoinMagazinePost on X ·

    JUST IN: 🇺🇸 Strive’s 'SATS' has officially IPO’d on the Nasdaq, and is raising $630 million to buy more Bitcoin and income-generating assets 🚀 https://t.co/IxqeUENary

    Open source
  4. CT

    Coin TelegraphArticle ·

    Strive closes $630M SATS IPO, leaves Bitcoin allocation unspecified The Bitcoin treasury company could acquire an estimated 7,372 BTC with its net proceeds, potentially surpassing Metaplanet’s holdings if it allocates the full amount.

    Open source
  5. CO

    Cointelegraph@CointelegraphPost on X ·

    🔥 BIG: Strive raised $630 million through its SATS preferred stock IPO, with the company saying proceeds may be used for Bitcoin purchases but not specifying how much. https://t.co/YGSORn1V21

    Open source