Strive upsizes SATS IPO to $700M, priced at $90 per share
Published Updated 3 new reports since it was first published
Strive set the price of its SATS preferred stock at $90 a share late on Oct. 15 and sold 7 million shares after adding 2 million to the deal. The offering was described as a roughly $630 million sale before underwriting discounts and expenses, with settlement set for Oct. 20, and one report also placed the upsized IPO at $700 million.
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Claim by claim, with its source
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One report put Strive’s SATS IPO at $700 million and said it was priced at $90 per share.
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Strive set the price of its new SATS preferred stock at $90 a share late on Oct. 15 and sold 7 million shares after adding 2 million to the offering.
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Gross proceeds from the upsized sale were estimated at about $630 million before underwriting discounts and expenses, and settlement was scheduled for Oct. 20.
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Another report said Strive wanted to add another $130 million on top of a previously announced $500 million IPO to buy more bitcoin and expand its business.
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One report said the $100 dividend base implies a 16.7% simple annual yield at the offer price, above the initial 15%.
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How the story was built
Every piece in order, with the time its news medium declares — if it is not believable we use ours and say so — and what it added to what was already known at that point. Arriving first is not the same as adding something.
first
Crypto Briefing
scoop
Oct 16 08:26
Crypto Briefing
scoop
Breaks the event: $700M
+1 h 59 m
Unchained
adds
Oct 16 10:26
Unchained
adds
Adds $630M, with quotes
+9 h 31 m
Protos
adds
Oct 16 17:58
Protos
adds
Breaks the figures down; the largest, $500M
+23 h 47 m
The Defiant
echo
Oct 17 08:14
No new facts: initial, implies, defiant