Strive Expands SATS Perpetual Preferred Stock Offering to Approximately $630 Million, Potentially Becoming the Second-Largest Publicly Listed Bitcoin Treasury Company

Odaily News: Strive has expanded its SATS perpetual preferred stock offering to 7 million shares at $90 per share, expecting to raise approximately $630 million in gross proceeds. The preferred stock carries a 15% annual dividend rate and is expected to close around October 20, subject to the completion of the offering. Strive had previously planned to issue 5 million shares to raise approximately $500 million. The proceeds from this offering will be used to purchase Bitcoin and will not dilute common shareholders' equity as an additional common stock issuance would; if fully deployed to purchase Bitcoin, Strive could become the world's second-largest publicly listed Bitcoin treasury company after Strategy.