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On October 14, Bitcoin treasury company Strive (ASST) announced the launch of SATS, a perpetual preferred stock. It plans to issue 5 million shares at $100 per share, raising $500 million. The proceeds will be used to buy more Bitcoin, acquire income-generating assets, or repurchase shares.
SATS will pay a fixed annual dividend of 15%, distributed daily. Its liquidation and dividend priority will rank below that of Strive's existing perpetual preferred stock, SATA, which currently pays a 13% dividend. Strive also plans to establish a dividend reserve upon completion of the offering, equal to 18 months of SATS dividend payments.
As for its Bitcoin holdings, Strive added 3,311 BTC last week, bringing its total holdings to 32,773 BTC, worth approximately $2.7 billion at current prices. Just three months ago, the company held fewer than 20,000 BTC.
$MSTR $ASST.US $BTC
On October 14, Bitcoin treasury company Strive (ASST) announced the launch of SATS, a perpetual preferred stock. It plans to issue 5 million shares at $100 per share, raising $500 million. The proceeds will be used to buy more Bitcoin, acquire income-generating assets, or repurchase shares.
SATS will pay a fixed annual dividend of 15%, distributed daily. Its liquidation and dividend priority will rank below that of Strive's existing perpetual preferred stock, SATA, which currently pays a 13% dividend. Strive also plans to establish a dividend reserve upon completion of the offering, equal to 18 months of SATS dividend payments.
As for its Bitcoin holdings, Strive added 3,311 BTC last week, bringing its total holdings to 32,773 BTC, worth approximately $2.7 billion at current prices. Just three months ago, the company held fewer than 20,000 BTC.
$MSTR $ASST.US $BTC