Bitcoin (BTC) treasury news: Strive (ASST) aims to raise $500 million with SATS preferred offering
Summary
Strive announced SATS, a perpetual preferred stock carrying a fixed 15% dividend, and plans to sell 5 million shares at $100 each to raise $500 million. Proceeds may fund bitcoin purchases, income-producing assets or stock buybacks. SATS will rank below the company’s existing variable-rate preferred stock, SATA, and dividends will be paid daily. Strive plans to reserve 18 months of SATS dividends at closing. The company recently bought 3,311 bitcoin, bringing its holdings to 32,773, valued at about $2.7 billion.
