Strive upsizes SATS preferred stock offering to 7 million shares, targeting $630 million
Bitcoin treasury company Strive has priced an upsized offering of its new fixed-rate SATS preferred stock at $90 per share, aiming to raise roughly $630 million in gross proceeds to buy more bitcoin and support corporate operations.
Bitcoin treasury company Strive upsized the offering of its 15.00% Series A Perpetual SATS Preferred Stock by 2 million shares, pricing 7 million shares at $90 each late on Oct. 15. The sale targets approximately $630 million in gross proceeds before discounts and expenses, with settlement scheduled for Oct. 20. When the offering originally launched on Oct. 13, Strive had planned to sell 5 million shares.[7][8][5]
The preferred shares carry a fixed 15% cumulative annual dividend calculated on a $100 stated value, amounting to $15 per share annually. Because investors bought the stock at a discounted $90 price, the payout equates to an effective yield of 16.7% if paid in full. The dividends accrue daily and are scheduled to be payable every business day, if declared, beginning Nov. 9. Some media outlets have cited the transaction value as $700 million by calculating the 7 million shares at their full $100 stated liquidation amount rather than the $90 issue price.[8][2][1][9]
Strive plans to direct the proceeds toward acquiring more bitcoin and bitcoin-related products, funding income-generating assets, and repurchasing its Class A common stock or variable-rate SATA preferred stock. At closing, Strive intends to deposit $22.50 per share into its dividend reserve, funding the equivalent of 18 months of dividend distributions.[8][5]
In the company's capital structure, SATS ranks senior to common stock but junior to SATA preferred equity. CEO Matt Cole noted that SATS has no target trading range, unlike SATA, and stated that the launch was timed to follow the expiration of the firm's traditional warrants, responding to strong investor demand for income stability. Because the perpetual shares have no maturity date, investors must sell on the open market to exit, leaving returns vulnerable if market prices decline.[8][4][2]
Key facts
- Strive expanded its SATS preferred stock offering by 2 million shares to a total of 7 million shares.
- The SATS shares were priced late on Oct. 15 at $90 each, aiming to generate roughly $630 million in gross proceeds.
- The shares accrue a 15% cumulative annual dividend based on a $100 stated value, yielding 16.7% at the $90 purchase price.
- Dividends accrue daily and are payable every business day if declared, beginning Nov. 9.
- Strive plans to allocate $22.50 per share into a dividend reserve at closing, covering 18 months of payments.
- Net proceeds will be used to buy bitcoin and bitcoin-related products, support working capital, and repurchase Class A common or SATA preferred stock.
- SATS ranks junior to Strive's SATA preferred stock and senior to its common equity, with settlement set for Oct. 20.
Sources · 9 sources
- CB
Crypto BriefingArticle ·
Strive upsizes SATS IPO to $700M, priced at $90 per share Strive's IPO success highlights growing investor confidence in Bitcoin-backed securities, potentially influencing future corporate treasury strategies. The post Strive upsizes SATS IPO to $700M, priced at $90 per share appeared first on Crypto Briefing .
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CryptoSlate@CryptoSlatePost on X ·
Strive priced its SATS preferred stock at $90 a share with a $15 annual dividend, a 16.7% yield if paid in full. The shares have no maturity date, so exiting means selling, and a lower resale price can offset that income. Analysis by @andjelaradmilac https://t.co/R6436qa0QI
Open source - CR
CryptoSlateArticle ·
The hidden trade behind Strive’s 16.7% Bitcoin income offer There's a Bitcoin company that's now offering investors a 15% annual dividend, paid in small installments every business day. While a 15% dividend is high enough to grab everyone's attention, the more revealing number is what buyers agreed to pay for it. On Oct. 15, Strive priced seven million shares of its new SATS preferred… Read the full story on CryptoSlate Understand the crypto stories that matter and what to watch next. Get The Catalyst in your inbox
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Laura Shin@laurashinPost on X ·
Strive's new SATS preferred sits below SATA in its capital structure and pays a fixed 15%. CEO Matt Cole said it has no target trading range. The sale is set to settle Oct. 20. https://t.co/jWPcMFBiTQ
Open source - PR
ProtosArticle ·
Strive to sell another $130M of SATS stock to buy more bitcoin Bitcoin treasury firm Strive wants another $130 million on top of a previously announced $500 million IPO to buy more BTC and grow its business. Last Tuesday, Strive announced plans to raise $500 million through a Series A IPO that would sell 5 million shares, priced at $100 each, of the perpetual preferred stock SATS. Strive has since announced that it’s selling 7,000,000 shares at $90 per share, an increase of $130 million. As well as buying more BTC, Strive claims the funds will be used to acquire BTC-related products, working capital, assets, and other businesses to help grow the company. The funds will also be used to purchase Strive’s Class A common stock. The stock’s 15% fixed-rate cumulative dividend will remain at 15% of $100 per share. Strive’s offering will settle on October 20, 2026. The BTC treasury firm then expects to increase its dividend reserve equal to the first 18 months of SATS dividend payments. Strive suffered $6M drawdown buying Strategy shares In March, Strive chose to swap a third of its cash holdings, worth $50 million, to purchase shares in Michael Saylor’s BTC firm Strategy. The paper losses stemming from the STRC purchase by July stood at $6.3 million. Despite this, the price of Strive shares has since risen 125% from July. Strive shares have risen 125% from July. Read more: Bitcoin treasury stocks have gone ice cold The firm’s CEO, Matt Cole, also announced last Wednesday that it spent $235 million to purchase 2,822 BTC. It exercised 273 million traditional warrants to purchase 13.6 million Class A common stock shares, netting it $369.2 million. Strive, via its asset management subsidiary, manages over $2.8 billion in assets and now holds 35,595 BTC, worth $2.9 billion at today’s prices. Got a tip? Send us an email securely via Protos Leaks . For more informed news and investigations, follow us on X , Bluesky , and Google News , or subscribe to our YouTube channel. The post Strive to sell another $130M of SATS stock to buy more bitcoin appeared first on Protos .
Open source - CO
CoinMarketCap@CoinMarketCapPost on X ·
LATEST: 💰 Strive has priced its IPO of SATS preferred stock at $90 per share, upsized to 7M shares, expecting to raise ~$630M in gross proceeds it plans to use partly to buy Bitcoin. https://t.co/CEH5DKZReZ
Open source - TB
The Block@TheBlockCoPost on X ·
THE BLOCK: Strive $ASST upsized its SATS preferred stock offering by 2 million shares to 7 million, targeting $630 million in gross proceeds. The shares are priced at $90 each and carry a 15% annual dividend rate, the bitcoin bitcoin:native treasury company said. https://t.co/YvLbDcSpSz
Open source - UN
UnchainedArticle ·
Strive Eyes About $630 Million in Upsized Sale of a New Fixed-Rate Preferred Stock Strive set the price of its new SATS preferred stock at $90 a share late on Oct. 15, selling 7 million shares after adding 2 million to the deal, the Nasdaq-listed bitcoin treasury company announced . Gross proceeds are estimated at about $630 million before underwriting discounts and expenses, and the sale is scheduled to settle on Oct. 20 . When Strive launched the offering on Oct. 13, it planned to sell 5 million shares. The 15.00% Series A Perpetual SATS Preferred Stock accrues a cumulative dividend of 15% a year on a $100 stated amount per share, so buyers at $90 paid less than the figure the payout is calculated on. Some outlets are reporting the deal as $700 million, which is 7 million shares times the $100 stated amount; at the $90 price, gross proceeds are about $630 million. Dividends accrue daily and are payable each business day, if declared by the board, starting Nov. 9 . Strive said it plans to put the money toward general corporate purposes, including more bitcoin and bitcoin-related products, income-generating assets and buybacks of its Class A common stock or SATA preferred. At closing, it intends to add $22.50 per SATS share, equal to 18 months of dividends, to its existing dividend reserve. Get Unchained’s crypto news in your inbox with the free Unchained Daily newsletter . A Second Preferred SATS ranks below SATA , Strive’s variable-rate preferred, and above its common stock, according to the preliminary prospectus supplement . Strive made SATA’s $100 minimum sale price binding on Oct. 13; the new stock instead pays a fixed rate. “Importantly, there is no target trading range for SATS like there is for SATA,” CEO Matt Cole said in an investor presentation . Cole said Strive had seen “a massive desire for, actually, income stability” among investors and tied the timing to the end of its traditional warrants. “With the expiry of the warrants, we felt like now was the perfect opportunity to launch a second preferred equity in our capital structure,” he said. Warrant Cash and More Bitcoin Holders exercised 273,493,909 traditional warrants covering 13,674,703 Class A shares on Oct. 12 and 13, for expected gross proceeds of $369.2 million , Strive disclosed on Oct. 14. It also bought 2,822 BTC over those two days at about $83,266 each. Before those purchases, as of Oct. 9, it held about 32,773 BTC and had no consolidated debt, per the prospectus. Strive’s first preferred also came to market below $100. The company priced the SATA IPO at $80 a share on Nov. 5, 2025, upsizing it by 750,000 shares to 2 million and raising about $160 million. As of Oct. 9, 14,030,176 SATA shares were outstanding. Earlier this month, Strive disclosed a buyback facility for that stock. Related Listen: Why Matt Cole Believes Last Week’s STRC Crash Was a Leverage Liquidation The post Strive Eyes About $630 Million in Upsized Sale of a New Fixed-Rate Preferred Stock appeared first on Unchained .
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Analytics Insight@analyticsinmePost on X ·
𝐒𝐭𝐫𝐢𝐯𝐞 𝐔𝐩𝐬𝐢𝐳𝐞𝐬 𝐒𝐀𝐓𝐒 𝐒𝐭𝐨𝐜𝐤 𝐈𝐏𝐎 𝐭𝐨 𝐔𝐒𝐃 𝟕𝟎𝟎 𝐌𝐢𝐥𝐥𝐢𝐨𝐧 𝐢𝐧 𝐕𝐚𝐥𝐮𝐞 𝐟𝐨𝐫 𝐁𝐢𝐭𝐜𝐨𝐢𝐧 𝐏𝐥𝐚𝐧𝐬 🚨 Strive has expanded its SATS stock IPO to USD 700 million in stated value, targeting USD 630 million in gross proceeds! The Bitcoin treasury firm plans to use part of the funds to buy more BTC. The preferred shares carry a 15% annual dividend. 📈₿💰 #Strive #Bitcoin #BTC #BitcoinTreasury #CryptoNews #analyticsinsight #analyticsinsightmagazine Read More 👇 https://t.co/Bp1mzRTNEq
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