Strive targets $500 million preferred stock raise to expand bitcoin treasury
As bitcoin treasury companies keep turning to capital markets to expand holdings, Strive is launching a new perpetual preferred stock to raise $500 million for additional bitcoin purchases and other corporate uses. The planned SATS offering carries a fixed 15% dividend at par and ranks junior to the company’s existing SATA preferred shares, which currently pay a variable 13% rate.
Highlights
- Strive launches SATS perpetual preferred stock targeting a $500 million raise at $100 per share, offering a fixed 15% dividend paid daily.
- Proceeds from the SATS sale will be used to purchase more bitcoin, acquire income-generating assets, or repurchase shares, with an 18-month dividend reserve established at closing.
- Strive increased its bitcoin holdings to 32,773 coins worth approximately $2.7 billion, up from under 20,000 in three months, outpacing larger peers like Strategy.
Preferred offering structure and use of proceeds
As reported by CoinDesk, Strive says the new SATS perpetual preferred stock will pay a fixed 15% dividend and will be offered at $100 per share, with the company aiming to sell 5 million shares. Proceeds are earmarked to buy additional bitcoin, acquire income-producing assets, or repurchase stock.SATS will rank below Strive’s existing SATA perpetual preferred shares in the capital structure. Like SATA, the new preferred class will pay dividends daily, and the company intends to set up a dividend reserve at closing equal to the first 18 months of SATS dividend payments.
Bitcoin accumulation strategy and market position
Strive is standing out from many other bitcoin treasury companies by continuing to increase its holdings in recent weeks. The company says it acquired 3,311 bitcoin last week, lifting its total holdings to 32,773 coins, with a current value of about $2.7 billion.That marks a sharp increase from three months ago, when Strive held fewer than 20,000 bitcoin. The faster buildup also contrasts with larger peers such as Strategy, underscoring how the company is using preferred financing to accelerate balance sheet exposure to the cryptocurrency sector.
Our earlier article on Weiss Ratings’ crypto portfolio service explained how the publisher promotes a model-portfolio approach that combines altcoin selection with market-timing signals to try to outperform a simple buy-and-hold Bitcoin strategy. We noted that the offer targets retail investors with separate medium-term trading and long-term investing tracks, while its performance claims are presented without independently verified results.
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