Strive Plans $500 Million Preferred Stock IPO to Expand Bitcoin Holdings

Strive has announced plans to raise $500 million through an initial public offering of 5 million Series A Perpetual Preferred shares, designated as SATS, at $100 per share. The shares offer a fixed 15% cumulative annual dividend yield and will establish an upfront 18-month dividend reserve of $22.50 per share. Proceeds are earmarked primarily to purchase spot bitcoin and related products, invest in income-generating assets, and fund share buybacks. The offering follows Strive's acquisition of 3,311 BTC the previous week, expanding its treasury to 32,773 BTC worth roughly $2.7 billion.