Strive sets up up to $1 billion share sale program for SATS preferred

what happened

Strive has signed a sales agreement with seven financial firms for an at-the-market offering of its 15% Series A perpetual preferred stock, known as SATS, worth up to $1 billion. The company decides when to sell and is under no duty to do so, and it can pause or end the program whenever it chooses. According to TradingView, the firms may collect fees of up to 2% of the money raised.

Crypto Briefing reports that the proceeds may fund general corporate purposes, including Bitcoin purchases. A Form 8-K filed with the SEC shows recent buys at an average cost of about $82,732 per bitcoin, fees included. Holdings have now reached 43,000 BTC, matching a target the company had set earlier.

why it matters

The program gives Strive flexibility to raise capital while it keeps building its Bitcoin holdings, and the company reports no debt. Dividends are calculated on the $100 stated value, so sales below that level, as the $90 IPO price was, raise the effective cost of each new share. The next checkpoint for the market is the first dividend payment, expected on November 9, 2026.

market impact

SATS and BTC: new issuance expands room for Bitcoin buying but may weigh on demand for the preferred shares

tags

instruments