Strive Expands SATS Stock Offering by $130 Million to Fund Bitcoin Purchases
Bitcoin treasury firm Strive increases its Series A IPO stock offering to $130 million to acquire more bitcoin and corporate assets.
Strive Expands SATS Stock Offering by $130 Million to Fund Bitcoin Purchases
Bitcoin treasury firm Strive increases its Series A IPO stock offering to $130 million to acquire more bitcoin and corporate assets.
Expanding the SATS Stock Offering
A prominent Bitcoin treasury firm known as Strive is scaling up its financial strategy by increasing its latest share offering. Initially, the company announced plans to raise $500 million through a Series A initial public offering involving 5 million shares of perpetual preferred stock known as SATS, priced at $100 each.
According to recent announcements, Strive is now selling 7,000,000 shares at $90 per share, adding an extra $130 million to the capital raise. The offering is scheduled to settle on October 20, 2026, after which the firm intends to increase its dividend reserve to match the first 18 months of SATS dividend payments.
Acquiring Bitcoin and Expanding Operations
Beyond purchasing additional bitcoin, Strive stated that the proceeds will fund the acquisition of bitcoin-related products, working capital, other assets, and various businesses to support corporate growth. A portion of the funds will also be directed toward purchasing the firm's Class A common stock.
Strive CEO Matt Cole recently reported that the company spent $235 million to acquire 2,822 BTC. Additionally, the firm exercised 273 million traditional warrants to purchase 13.6 million Class A common stock shares, generating $369.2 million in the process. Operating through its asset management subsidiary, Strive manages over $2.8 billion in assets and currently holds 35,595 BTC.
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