Strive closed its upsized initial public offering of SATS preferred stock on Oct. 20, 2026, raising $630 million gross, according to the company. It sold 7 million shares at $90 each and estimated net proceeds of $608.15 million. Strive has not specified how much it will spend on Bitcoin; its stated uses of the funds also include working capital, other assets, share repurchases and acquisitions.
SATS carries a cumulative annual dividend of $15 per share if paid in full, but payments depend on a declaration by Strive’s board. Daily payments are scheduled to begin Nov. 9, 2026, if declared; the first would include accruals from the Oct. 20 closing.
