Strive upsizes SATS IPO to $700M, priced at $90 per share
Strive priced its new SATS preferred stock at $90 a share and expanded the sale before settlement, with one report putting gross proceeds at about $630 million and another describing the offering as up to $700 million. The company sold 7 million shares after adding 2 million to the deal, and the sale was set to settle on Oct. 20. [52537][52393]
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Users and market participants tracking bitcoin treasury companies see Strive move ahead with a larger preferred-stock sale, and the schedule now points to an Oct. 20 settlement. That makes the financing visible in the market today, not just a filing or announcement.
In practice, the offering was expanded and priced, while the basic structure remained a fixed-rate preferred stock sale. What changed was the size of the deal; what did not change, from the text provided, was that it stayed a Nasdaq-listed bitcoin treasury company financing.
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