Strive raises $630M in SATS preferred stock offering
- —Offering upsized from 5 million to 7 million SATS shares at $90
- —$630 million raised before underwriting fees and expenses
- —ASST common stock gained 20.5% from Oct. 16 to Oct. 22 close
- —SATS pays a 15% annual dividend on $100 liquidation preference, starting Nov. 9
Why it matters: The proceeds could expand Strive's bitcoin holdings, but management retains discretion over how the capital is deployed.
Source: TokenPost