Strive Expands SATS Preferred Offering to $630 Million

Strive has expanded its SATS perpetual preferred stock offering to 7 million shares from 5 million, setting the transaction at $630 million and increasing the financing available for planned Bitcoin purchases. The shares are priced at $90 each and carry a 15% annual dividend rate. Strive expects the sale to close around Oct. 20, with timing dependent on completion of the offering. The company plans to use the proceeds to buy Bitcoin (BTC). The preferred stock sale would not dilute common shareholders through the issuance of additional common shares.

Source: TokenPost