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.

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