Strive plans 500 million dollar preferred stock offering to expand bitcoin treasury
Strive is planning a 500 million dollar initial public offering of new SATS perpetual preferred shares paying a 15% dividend to acquire more bitcoin and support corporate operations.
Strive is preparing a $500 million preferred stock offering to finance further bitcoin acquisitions, according to CoinDesk and CryptoSlate. The proposed deal involves 5 million shares of a new perpetual preferred stock class designated as SATS, carrying a fixed 15% annual dividend yield at par, as reported by The Block and CoinDesk. SATS will rank junior to Strive's existing SATA preferred shares, which pay a variable dividend rate currently sitting at 13%.[7][5][4]
The Nasdaq-listed company noted that proceeds may be deployed into bitcoin purchases, income-generating assets, working capital, and other corporate activities, The Block reported. CryptoSlate reported that under a hypothetical $500 million financing model, $387.5 million would be allocated to purchasing bitcoin, while actual pricing and final capital deployment remain open. Bitcoin Archive and CryptoSlate noted that Strive plans an 18-month dividend reserve to cover payouts.[4][1][2][5]
The issuance could bring substantial ongoing obligations. If SATA's 13% rate holds, combined preferred dividends across both share classes could reach $257.4 million annually, according to CryptoSlate. Meanwhile, reports differed on Strive's total bitcoin holdings: Bitcoin Magazine stated that Strive acquired 2,822 BTC to bring its reserve to 35,595 BTC, while Analytics Insight reported that the treasury stood at 32,773 BTC around the time bitcoin traded near $83,500.[5][6][3]
Key facts
- Strive is planning a $500 million offering of a new perpetual preferred stock class named SATS.
- The proposed IPO covers 5 million SATS preferred shares carrying a fixed 15% annual dividend rate at par.
- SATS ranks junior to Strive's existing SATA preferred shares, which pay a variable rate currently at 13%.
- Combined preferred dividends could total $257.4 million annually if SATA's 13% rate remains steady.
- Strive plans an 18-month dividend reserve to cover preferred share distributions.
- Offering proceeds are slated for bitcoin purchases, income-generating assets, working capital, and general corporate purposes.
- Bitcoin Magazine reported Strive bought 2,822 BTC to reach 35,595 BTC, whereas Analytics Insight reported the company held 32,773 BTC.
Sources · 7 sources
- CR
CryptoSlateArticle ·
Strive’s new $500 million Bitcoin financing plan comes with a $257 million annual dividend problem A hypothetical $500 million SATS financing assigns $387.5 million to Bitcoin, while actual pricing and capital deployment remain open. Read the full story on CryptoSlate Understand the crypto stories that matter and what to watch next. Get The Catalyst in your inbox
Open source - BA
Bitcoin Archive@BitcoinArchivePost on X ·
JUST IN: $2.8B Strive plans IPO of new 15% perpetual preferred stock to buy more Bitcoin. Will fund an 18-month dividend reserve to cover dividends. Saylor's Strategy getting some real competition! https://t.co/EFgnGhLfEL
Open source - AI
Analytics Insight@analyticsinmePost on X ·
𝐒𝐭𝐫𝐢𝐯𝐞 𝐓𝐚𝐫𝐠𝐞𝐭𝐬 𝐔𝐒𝐃 𝟓𝟎𝟎𝐌 𝐁𝐢𝐭𝐜𝐨𝐢𝐧 𝐑𝐚𝐢𝐬𝐞 𝐚𝐬 𝐐𝐮𝐚𝐧𝐭𝐮𝐦 𝐑𝐞𝐬𝐞𝐚𝐫𝐜𝐡 𝐀𝐝𝐯𝐚𝐧𝐜𝐞𝐬 Strive Bitcoin treasury targets a USD 500 million raise after expanding its holdings to 32,773 BTC. Meanwhile, Bitcoin trades near USD 83,500 as researchers test new quantum-resistant Lightning security. #Bitcoin #BTC #Strive #BitcoinTreasury #CryptoNews #LightningNetwork #QuantumSecurity #analyticsinsight #analyticsinsightmagazine Read More 👇 https://t.co/b3WqgSsZNs
Open source - TB
The Block@TheBlockCoPost on X ·
THE BLOCK: Strive $ASST proposed an IPO of 5 million SATS preferred shares carrying a 15% annual dividend rate. The Nasdaq-listed company said the proceeds may fund bitcoin bitcoin:native purchases, income-generating assets, working capital, and other corporate purposes. https://t.co/CDKQGLIiVa
Open source - CR
CryptoSlate@CryptoSlatePost on X ·
.@Strive plans a $500M preferred-stock offering with a fixed 15% annual dividend to support more $BTC purchases. Combined preferred dividends could reach $257.4M a year if SATA’s 13% rate holds; modeled reserves cover about 18 months. via @hardeyjumoh https://t.co/RDgGOSSWTr
Open source - BM
Bitcoin Magazine@BitcoinMagazinePost on X ·
JUST IN: Strive proposes SATS IPO at 15% dividend as they buy 2,822 BTC for their Bitcoin treasury. 👀 They now hold 35,595 BTC! 🚀 https://t.co/d2CMFnzyQ9
Open source - CO
CoindeskArticle ·
Strive raising $500 million to buy additional bitcoin with new preferred share class SATS will offer a fixed 15% dividend yield at par and be junior to the company's existing SATA, which pays a variable rate (currently 13%).
Open source