Strive ASST plans $500 million capital raise through new preferred stock
- Strive ASST announced a new perpetual preferred stock, SATS, offering a fixed dividend of 15%.
- The company aims to sell up to 5 million shares at $100 each, targeting a total capital raise of $500 million.
- Proceeds will be used for purchasing additional bitcoin, acquiring income-producing assets, or stock buybacks.
- Strive has recently increased its bitcoin holdings significantly, now totaling 32,773 coins worth approximately $2.7 billion.
- The company acquired an additional 3,311 bitcoin last week, up from below 20,000 three months ago.
Strive’s new share class will sit junior to its existing perpetual preferred stock and aims to establish a dividend reserve for the first year and a half of payments on SATS. This move highlights Strive’s strategy to bolster its bitcoin treasury amidst growing competition in the sector.
With total holdings now at over $2.7 billion after recent acquisitions, Strive is positioning itself as a notable player in the bitcoin treasury space.(Source)
