Strive to Raise $160 Million After Upsizing BTC-Linked Preferred Stock Offering

Strive, an asset management company focused on building a bitcoin treasury, aims to raise approximately $160 million by upsizing its initial public offering of its Variable Rate Series A preferred stock (SATA) to 2 million shares priced at $80 each. The offering, which will close on November 10, has been increased by 750,000 shares. The SATA shares offer an initial annual dividend of 12% and will be utilized for general corporate purposes, including bitcoin investments and potential acquisitions. Currently, Strive holds the 17th largest stash of bitcoin among publicly traded companies, with 5,958 BTC. The stock's dividend will be payable starting December 15, and the company will adjust the rate within specific limits tied to market rates. Additionally, Strive may redeem shares at specified conditions, and the liquidation preference for the shares begins at $100.

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