Strive CEO says SATA has higher institutional ownership than Strategy’s STRC

Strive CEO Matt Cole said on a podcast that institutional investors account for a larger share of holders in the company’s floating-rate perpetual preferred stock SATA than in Strategy’s perpetual preferred stock STRC. Cole said the gap stems from investor protections built into SATA. Under the structure, Strive cannot lower the dividend rate until the stock’s monthly average price rises above $99, and if it fails to pay dividends, the company bears a greater burden, he said, adding that the design strengthens investor protections. Separately, Strive is pursuing share buybacks of SATA worth up to $500 million and held 29,462 BTC as of Oct. 2.