Strive, a Bitcoin treasury company, announced plans to issue 5 million shares of SATS perpetual preferred stock at $100 per share, aiming to raise $500 million.

The expected proceeds will be used to increase Bitcoin holdings, purchase yield-generating assets, or repurchase the company’s shares. SATS has a fixed annual dividend rate of 15%, paid daily.

SATS ranks junior to SATA, Strive’s existing perpetual preferred stock with a 13% yield, for dividend payments and liquidation distributions. Upon completion of the offering, the company expects to establish a reserve sufficient to cover SATS dividends for the following 18 months.

Strive added 3,311 BTC last week, bringing its total holdings to 32,773 BTC, worth approximately $2.7 billion at the reported price. Three months ago, the company held fewer than 20,000 BTC.

Source: https://tintucbitcoin.com/strive-du-kien-huy-dong-500-trieu-usd-qua-co-phieu-uu-dai/

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