Strive (ASST) Stock Jumps 4% After Raising $630M to Fuel More Bitcoin Buying

TLDR Strive (ASST) stock rose 3.93% after the company priced its upsized preferred stock offering. It sold 7 million units of 15% Series A Perpetual Preferred Stock (SATS) at $90 per share, up 2 million from the first plan. Gross proceeds are about $630 million, not the $700 million some headlines used. Funds may go toward more bitcoin, working capital, income-generating assets and possible buybacks. SATS pays a 15% dividend, with $22.50 per share set aside to cover 18 months of payments. Strive (ASST) stock rose about 4% after the company priced an upsized offering of its preferred stock. The bitcoin treasury firm sold 7 million units of 15% Series A Perpetual Preferred Stock, known as SATS, at $90 per share. Strive, Inc., ASST ASST gained 3.93% on the day.

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