Strive to sell another $130M of SATS stock to buy more bitcoin
Strive plans to sell another $130 million of SATS stock
Strive, a Bitcoin treasury firm, announced it will sell another $130 million worth of its SATS perpetual preferred shares to fund additional Bitcoin purchases and business expansion. The new sale follows an earlier $500 million IPO plan and adds to the total offering size.
Key numbers
- $130 million additional shares to be sold at $90 per share (7 million shares)
- Original IPO size: $500 million (5 million shares at $100 each)
- Total offering now: $630 million
- Settlement date: October 20, 2026
- SATS share price: $90 per share
- Fixed dividend: 15 % of $100 per share (unchanged)
- Dividend reserve: Strive expects to set aside funds equal to 18 months of SATS dividend payments
What the SEC filing says
The details come from Strive’s SEC filing (Form DP‑255095). It confirms the increase to 7 million shares at $90 each, raising an extra $130 million beyond the previously announced $500 million IPO. The filing also states the offering will settle on October 20, 2026, and that the company will adjust its dividend reserve accordingly.
How Strive will use the proceeds
According to the filing, the new capital will be used to buy more Bitcoin, acquire BTC‑related products, add working capital and other assets, and purchase additional Class A common stock of Strive. The firm also plans to expand its treasury operations.
Recent Strive activity and market performance
In March, Strive used $50 million of cash to buy shares in Michael Saylor’s Strategy, which later showed paper losses of about $6 million. Despite that, Strive’s Class A shares have risen 125 % since July. The company’s CEO, Matt Cole, also announced a $235 million purchase of 2,822 BTC and the exercise of warrants to acquire 13.6 million Class A shares, netting $369.2 million. Strive now manages over $2.8 billion in assets and holds 35,595 BTC, worth roughly $2.9 billion at current prices.
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.