Strive launches $500 million at-the-market offering for further bitcoin acquisitions

Strive, a Nasdaq-listed company operating a Bitcoin treasury, has initiated a $500 million at-the-market (ATM) offering for its Variable Rate Series A Perpetual Preferred Stock (SATA). The company entered a sales agreement with Cantor Fitzgerald, Barclays, and Clear Street to sell shares at prevailing market prices over time. The SATA stock carries a 12.00% annual dividend rate, and Strive stated the capital raised will be used for general corporate purposes, specifically including acquiring more Bitcoin. Strive, co-founded by Vivek Ramaswamy, aims to increase its BTC-per-share metric to eventually outperform Bitcoin and held 7,525 BTC as of November 7th.

(Source：The Block)