Strive raising $500 million to buy additional bitcoin with new preferred share class
Bitcoin treasury company Strive ASST$27.60·Market Closed on Tuesday evening announced a new perpetual preferred stock, SATS, with a 15% fixed dividend. The company is aiming to sell 5 million shares at $100 per share, for a capital raise of $500 million, with proceeds to be used to purchase additional bitcoin BTC$83,498.63, acquire income-producing assets, or buy back stock.