Strive raises preferred stock offering to $630 million to expand Bitcoin holdings
CIE News ·
Based on reporting by Bitcoin.com News; not yet independently confirmed.
Strive upsized its SATS preferred share offering to $630 million with a near-17% yield to buy more Bitcoin after lifting its reserve to 36,818 BTC.
Strive expanded its Series A Perpetual Preferred Stock offering by 40%, targeting $630 million in gross proceeds to fund general corporate operations and buy additional Bitcoin (BTC). The firm priced 7 million SATS shares at $90 each with dividends based on a $100 par value, producing an effective annual yield of nearly 17%. Strive CEO Matt Cole stated that the offering proceeds are scheduled to settle on October 20, 2026.
The capital raise follows a five-day buying spree in which the asset manager acquired 4,045 BTC between October 12 and October 16, 2026, for roughly $335 million, according to Bitcoin.com News. Those acquisitions included 1,223 BTC purchased between October 14 and October 16 at an average price of $81,734, lifting Strive's total corporate balance to 36,818 BTC.
According to tokenpost.com, SATS pays dividends every business day at a fixed 15% rate, and Strive plans to maintain an 18-month dividend reserve from the proceeds. SATA preferred holders retain payment priority over SATS investors, while traditional warrants issued in September 2025 have either been exercised or expired.
Key facts
- $630M targeted proceeds
- 7M SATS shares at $90
- Effective yield near 17%
- Treasury holds 36,818 BTC
Read the original at Bitcoin.com News