Strive Prices $630 Million Preferred Offering Ahead of October 20 Settlement
- —7 million SATS shares at $90 each for $630 million gross proceeds
- —15% annual dividend on $100 stated amount, about 16.7% yield
- —Settlement scheduled for October 20
- —Proceeds may fund Bitcoin, working capital and acquisitions
Why it matters: The deal adds $105 million in annual dividend claims, weighing on Strive's capacity to keep expanding its Bitcoin reserve.
Source: Bitcoin Insider