Strive raising $500 million to buy additional bitcoin with new preferred share class
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Bitcoin treasury company Strive ASST $27.60 · Market Closed on Tuesday evening announced a new perpetual preferred stock, SATS, with a 15% fixed dividend.
Key facts
- The company is aiming to sell 5 million shares at $100 per share, for a capital raise of $500 million, with proceeds to be used to purchase additional bitcoin BTC $83,243.49, acquire income-producing
- Bitcoin treasury company Strive ASST $27.60
- Market Closed on Tuesday evening announced a new perpetual preferred stock, SATS, with a 15% fixed dividend
- The company last week acquired 3,311 bitcoin, bringing total holdings to 32,773 coins, currently worth about $2.7 billiion
- Diversified RWA stablecoins sustain 5-7% yield from real credit as crypto funding compresses to ~4%
Summary
Strive (ASST) is IPOing a new perpetual preferred stock, SATS, with a 15% fixed dividend. The new share class will sit junior to the company’s existing perpetual preferred stock, SATA. At closing of the IPO, Strive will set aside enough cash to fund 18 months of dividends on SATS. The company is aiming to sell 5 million shares at $100 per share, for a capital raise of $500 million, with proceeds to be used to purchase additional bitcoin BTC $83,243.49, acquire income-producing assets, or buy back stock.