Up to $1 billion: Strive plans to issue preferred stock through ATM offering

Odaily reports: SEC filings show that Bitcoin treasury company Strive entered into a sales agreement on October 26 with Cantor Fitzgerald, Barclays, Clear Street, StoneX, B. Riley Securities, Maxim Group, and H.C. Wainwright, planning to issue up to $1 billion in aggregate offering price of 15% Series A perpetual preferred stock from time to time through an ATM (at-the-market) offering, with the ticker symbol SATS. The preferred stock carries an annual dividend rate of 15% and a stated amount of $100 per share; the relevant institutions will serve as sales agents, with commissions of up to 2% of the gross proceeds from each sale. This offering is an additional issuance and does not include the 7 million shares of SATS preferred stock previously issued.