Strive Sets Price for $630 Million Stock Offering to Fund Bitcoin Strategy
Strive sets price for $630 million stock sale
Strive, a company that holds bitcoin as a primary part of its financial reserves, has priced a new offering of 7 million shares. These shares, called SATS perpetual preferred stock, are priced at $90 each. The company intends to raise $630 million in gross proceeds.
The company plans to use the money for several purposes, including the purchase of bitcoin. Bitcoin is a digital currency that exists only online and is not controlled by any single bank or government.
Key details of the SATS offering
- The offering size was increased from an initial plan of 5 million shares to 7 million shares.
- Each share pays a fixed 15% annual dividend based on a $100 stated value.
- Because investors are buying the shares at a discount price of $90, the actual yearly yield is approximately 16.7%.
- Strive expects to receive about $608.15 million after paying roughly $21.85 million in fees and expenses.
Insights from the company prospectus
According to the official prospectus, Strive will set aside $22.50 per share at the time of closing. This amount is meant to cover 18 months of dividend payments. However, the company noted that these payments must still be approved by its board and are dependent on having legally available funds.
The company also clarified that these SATS shares rank lower than its previous stock offering, called SATA, during a liquidation. This means SATA owners would have a higher priority for payments if the company were to close down.
Confirmed bitcoin purchases and dates
The new funding effort follows recent activity in the company's treasury. Strive confirmed that it bought 2,822 bitcoin between October 12 and October 13. These purchases were made at an average price of approximately $83,266 per bitcoin, which includes all related fees.
What remains unknown
While the company has listed bitcoin purchases as a primary goal for the funds, it has not specified the exact amount of money it will spend on the digital asset. Other potential uses for the cash include general working capital, buying other businesses, or repurchasing existing company shares.
Why this funding matters
This offering gives Strive a significant new source of capital to expand its bitcoin holdings. However, this money comes at a higher cost than the company’s previous stock offering in late 2025. The earlier SATA stock launched with a lower initial yield for investors compared to the 16.7% offered by the new SATS shares.
Next steps for the offering
The sale of the SATS shares is scheduled to settle on October 20, 2026. This is subject to the usual closing conditions required for such financial deals.
Sources
Newisty Editorial Team covers technology, cryptocurrency, digital products, online platforms, developer tools and the wider digital economy. Our content is researched from official sources, company announcements, public documentation, market data and other primary or reputable sources. Articles are reviewed and edited before publication for clarity, accuracy and useful context.