Overview
- Strive reported in an SEC filing that it bought 3,311 bitcoin in the week ending Oct. 9, bringing its total to 32,773 BTC.
- The company announced a new perpetual preferred called SATS and plans to sell 5 million shares at $100 each to raise up to $500 million.
- SATS will pay a fixed 15% annual dividend paid daily, will rank junior to Strive’s existing SATA preferred, and Strive will set aside an 18‑month dividend reserve at closing.
- CEO Matt Cole said investors exercised $208 million in warrants ahead of expiration, giving the company extra capital as it grows its bitcoin holdings.
- Markets are waiting for SATS to be priced and closed because proceeds will determine whether Strive accelerates bitcoin purchases while adding fixed payout obligations that could dilute common shareholders.