Tap here to vote for me and support more updates.

Bitcoin treasury financing: Strive completes $630 million preferred issue

Strive reportedly completed its SATS perpetual preferred offering, issuing 7 million shares at $90 each for $630 million in gross proceeds. The stated annual dividend is 15% of a $100 reference amount, rather than 15% of the issue price. Payments are planned on trading days beginning November 9, subject to board approval.

The preferred shares are not collateralized by the company's Bitcoin holdings. For treasury-company watchers, the key distinction is completed financing versus confirmed Bitcoin purchases: this issuance alone does not establish that the proceeds have already bought BTC. Follow subsequent allocation disclosures and dividend payments to assess how the financing is being used.

Reported: 10-21 03:24 UTC