Bitcoin treasury firm Strive wants to raise another roughly $130 million on top of a previously announced $500 million offering as it looks to buy more BTC and expand the business.
Last Tuesday, Strive said it planned to raise $500 million through a Series A IPO by selling 5 million shares of its perpetual preferred stock, SATS, at $100 per share. It later said it would sell 7,000,000 shares at $90 each, increasing the raise by about $130 million.
Strive said the proceeds will be used not only to buy more BTC, but also to acquire BTC-related products, working capital, assets, and other businesses intended 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. The offering is set to settle on October 20, 2026. After that, Strive expects to increase its dividend reserve to an amount equal to the first 18 months of SATS dividend payments.
Strategy share purchase showed a $6.3 million paper loss by July
In March, Strive chose to swap a third of its cash holdings, worth $50 million, to buy shares in Michael Saylor’s bitcoin firm Strategy. By July, the paper loss tied to that STRC purchase stood at $6.3 million.
Even so, Protos reported that Strive shares have risen 125% since July.
CEO says Strive bought 2,822 BTC for $235 million
CEO Matt Cole said last Wednesday that Strive had spent $235 million to buy 2,822 BTC.
The company also exercised 273 million traditional warrants to buy 13.6 million shares of Class A common stock, generating net proceeds of $369.2 million.
Through its asset management subsidiary, Strive manages more than $2.8 billion in assets. At current prices, it now holds 35,595 BTC worth $2.9 billion.