Bitcoin treasury company Strive said on Oct. 16 that it has increased the size of its SATS perpetual preferred stock IPO to $700 million, with the offering priced at $90 per share. Earlier information on the deal showed that Strive planned to issue SATS as perpetual preferred stock carrying a fixed annual dividend rate of 15%. The dividend is calculated on a stated amount of $100 per share, is cumulative if unpaid, and is paid daily. The update adds two key terms to the offering: the expanded fundraising target and the final share price. No additional details were provided in the source beyond those terms and the previously disclosed dividend structure.
Strive, a bitcoin treasury company, said on Oct. 16 that it has increased the size of its initial public offering for SATS perpetual preferred stock to $700 million and set the offering price at $90 per share.
Earlier information indicated that Strive planned to offer SATS as perpetual preferred stock through an IPO. The shares carry a fixed annual dividend of 15%, calculated on a stated amount of $100 per share. Unpaid dividends are cumulative, and the dividend is paid daily.
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