Strive plans $1 billion SATS stock sales for Bitcoin, dividends and buybacks

The Bitcoin treasury company now has an ongoing way to sell its 15% preferred shares and says total holdings have reached 43,000 BTC. Strive has launched a $1 billion at-the-market program to sell shares of its 15% Series A Perpetual SATS Preferred Stock, according to an announcement on Monday. The program allows the company to issue shares with an aggregate offering price of up to $1 billion. Strive said it may allocate the net proceeds to Bitcoin acquisitions and related products, working capital, income-generating assets, capital expenditures and other corporate needs. The company also outlined other potential uses for the funds, including repurchasing Class A common stock or SATA preferred shares, acquiring complementary businesses or technologies, paying dividends on outstanding preferred stock and repaying future indebtedness.

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