Strive has priced an upsized offering of 7 million shares of its new 15% Series A Perpetual SATS Preferred Stock at $90 each. The $630 million figure represents expected gross proceeds before fees and expenses, not money already spent on $BTC . The offering was expanded from the previously announced 5 million shares and is scheduled to settle on October 20, subject to closing conditions.

The company says it may use net proceeds for Bitcoin and Bitcoin-related products, working capital, income-generating assets, capital expenditures or share repurchases. No allocation to Bitcoin purchases has been disclosed. The preferred shares carry a 15% annual dividend calculated on a $100 stated amount, although dividends are subject to the terms of the security.

This is a corporate financing announcement, not a confirmed $630 million Bitcoin acquisition or a new spot-market inflow.