Strive said its newly issued preferred stock, SATS, raised $630 million through an initial public offering and has begun trading on Nasdaq. The company said the proceeds will be used to buy more Bitcoin and other yield-generating assets. SATS carries a fixed annual dividend rate of 15%, with payments made daily. The first dividend is scheduled for Nov. 9. The announcement outlines both the scale of the fundraising and the intended use of capital, tying the offering directly to additional Bitcoin purchases and income-producing assets. It also sets out the core terms for investors, including the fixed dividend structure and the timing of the first payout.
Strive said its newly issued preferred stock, SATS, raised $630 million in an initial public offering and has listed on Nasdaq.
The company said the proceeds will be used to purchase more Bitcoin and other yield-generating assets. The preferred stock carries a fixed annual dividend rate of 15%, paid daily, with the first dividend scheduled for Nov. 9.
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