Strive seeks $500M preferred stock sale to fund more Bitcoin purchases

Strive, a Bitcoin treasury company listed as ASST, is seeking to issue $500 million in SATS perpetual preferred stock to fund additional Bitcoin purchases, income-generating asset acquisitions, or share buybacks, CoinDesk reported. SATS will offer a fixed 15% annual dividend based on par value, with dividends paid daily. The security ranks below the company’s existing SATA perpetual preferred stock in repayment priority, while SATA currently carries a 13% floating annual dividend rate. Strive also plans to set aside reserves equal to 18 months of future dividend payments once the SATS issuance is completed.