Strive launches $500M buyback of SATA preferred shares, risking cash reserve
- —Buyback program capped at $500M, $215.3M above reported Oct. 2 cash
- —SATA dividends set at $13 per share annualized, 13% of the $100 stated amount
- —13,498,082 SATA shares outstanding on Oct. 2, up from 12,193,180 on Sept. 25
- —BTC holdings at 29,462 after buying 2,000 Bitcoin at an average $84,422
Why it matters: Retiring SATA would cut dividend commitments but reduce capital available for Bitcoin accumulation; investors await actual repurchase spending and updated balances.
Source: CryptoSlate