Strive raising $500 million to buy additional bitcoin with new preferred share class

By CoinDesk

Bitcoin treasury company Strive (ASST) on Tuesday evening announced a new perpetual preferred stock, SATS, with a 15% fixed dividend.

The company is aiming to sell 5 million shares at $100 per share, for a capital raise of $500 million, with proceeds to be used to purchase additional bitcoin (BTC), acquire income-producing assets, or buy back stock.

The new share class will sit junior to Strive’s current perpetual preferred, SATA, which has a variable rate (currently 13%).

Like SATA, SATS will pay dividends on a daily basis.

At closing of the offering, the company intends to establish a dividend reserve equal to the first 18 months of dividend payments on SATS.


Unlike most bitcoin treasury companies, including far larger peer Strategy, Strive has in recent weeks been able to significantly increase its bitcoin holdings.

The company last week acquired 3,311 bitcoin, bringing total holdings to 32,773 coins, currently worth about $2.7 billiion. Three months ago, holdings were below 20,000 coins.

Capital.com is an execution-only brokerage platform and the content provided on the Capital.com website is intended for informational purposes only and should not be regarded as an offer to sell or a solicitation of an offer to buy the products or securities to which it applies. No representation or warranty is given as to the accuracy or completeness of the information provided.

The information provided does not constitute investment advice nor take into account the individual financial circumstances or objectives of any investor. Any information that may be provided relating to past performance is not a reliable indicator of future results or performance.

To the extent permitted by law, in no event shall Capital.com (or any affiliate or employee) have any liability for any loss arising from the use of the information provided. Any person acting on the information does so entirely at their own risk.

Any information which could be construed as “investment research” has not been prepared in accordance with legal requirements designed to promote the independence of investment research and as such is considered to be a marketing communication.