Strive Announces 15% SATS Preferred Stock IPO to Fund Bitcoin Acquisition
- Published
Strive announced plans for a new perpetual preferred stock, SATS, with a fixed 15% dividend rate, and said the offering is intended to help fund additional bitcoin purchases. The new preferred shares would rank below the company’s existing perpetual preferred stock, SATA, which currently pays a variable rate of 13%.
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What it means
People who hold or follow Strive’s securities will notice a new preferred stock structure that sits below the company’s existing SATA shares. The new SATS issue is described as carrying a fixed 15% dividend, while SATA remains in place with a variable rate now listed at 13%.
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