Strive closes $630M SATS preferred stock offering with 15% dividend

Strive has closed an upsized $630 million preferred stock offering, introducing a new fixed dividend security as the Bitcoin treasury company expands its financing options beyond its existing SATA shares. Bitcoin treasury firm Strive closed its upsized $630 million public offering after selling 7 million SATS preferred shares at $90 each. The new SATS shares carry a 15% annual dividend rate and are expected to begin trading on Nasdaq under the ticker SATS around October 20. Strive CEO Matt Cole said the offering would provide another source of capital while strengthening the credit profile of its existing SATA preferred stock. The company outlined plans to establish a dividend reserve covering 18 months of payments, equivalent to $157.5 million at the final offering size.

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