Strive plans up to $1bn at-the-market preferred share sale

The story so far: Strive preferred share sale and bitcoin buying

Strive signed agreements to sell up to $1bn of its 15% Series A perpetual preferred stock (SATS) at the market. It has now bought 6,182 BTC in a week after completing a $630m SATS offering and plans a further raise of up to $1bn.

1. 26 Oct 202611:57 UTC

   Strive plans up to $1bn at-the-market preferred share sale

   Strive has signed a sales agreement with Cantor Fitzgerald, Barclays, Clear Street, StoneX, B. Riley Securities, Maxim Group and H.C. Wainwright to issue up to $1bn of its 15% Series A perpetual preferred stock, ticker SATS, at the market. The shares carry a 15% annual dividend and a $100 stated amount, with agents paid up to 2% commission; the sale is additional to 7m SATS shares already issued.

   MacroOdailyAIBearish

2. 29 Oct 202601:45 UTC

   Strive adds 6,182 BTC in a week and plans a further $1bn raise

   Strive bought 6,182 BTC in a week and announced a new issuance of up to $1bn after completing a $630m SATS offering. On a $80,000 BTC basis, its preferred stock equals about 61.1% of its Bitcoin value, against about 29.6% for Strategy's convertible bonds and preferred stock combined.

   BitcoinChainCatcherAIBullish