Strive pays nearly 17% on preferred stock as Strategy dilutes equity to keep buying bitcoin

• —Strive sold $630 million of preferred stock, 25% above its $504 million target
• —Effective yield on Strive's preferred is near 17%, versus 4.2% on one-year Treasuries
• —Strategy's 12% STRC preferred has not been sold since June; management is weighing daily dividends
• —Strategy is funding bitcoin buys with at-the-market common stock sales, diluting shareholders