Strive (ASST) Starts $500 Million ATM Program for High-Yield SATA Preferred Stock
Strive initiated a $500 million at-the-market offering for its SATA preferred stock to fund further bitcoin purchases and other corporate activities.Summary
Strive, a publicly traded bitcoin treasury and asset-management company, announced a $500 million at-the-market (ATM) offering for its Variable Rate Series A Perpetual Preferred Stock (SATA). This offering is intended to support Strive's expanding bitcoin-focused strategy, with proceeds potentially being used to acquire more bitcoin, purchase income-generating assets, support working capital, repurchase common shares, or pursue acquisitions. The SATA security pays a 12% dividend, yielding close to 13%, and is modeled after MicroStrategy's (MSTR) perpetual preferred equity. Strive, which holds approximately 7,525 bitcoin and is acquiring Semler Scientific (SMLR), currently trades as the 14th-largest publicly traded bitcoin company.
(Source：CoinDesk)