Strive closed an upsized offering of 7 million SATS preferred shares at $90 each, raising $630 million. Trading was expected to begin Oct. 20; the source does not say it had begun.
Each share accrues $15 in annual dividends on a $100 stated value. Strive plans cash payments every business day beginning Nov. 9, but payments require board approval and available funds. Its existing SATA preferred shares rank ahead of SATS for dividends and liquidation claims.
Strive said it held 36,818 BTC after acquiring 4,045 BTC between Oct. 12 and Oct. 16. It said SATS proceeds may fund further bitcoin purchases, among other uses.
