Strive Lines Up $500 Million Stock Offering to Buy More Bitcoin

Strive, a publicly traded bitcoin treasury and asset-management firm co-founded by Vivek Ramaswamy, has arranged a $500 million at-the-market (ATM) offering of Variable Rate Series A Perpetual Preferred Stock (SATA) to facilitate further bitcoin accumulation. This ATM structure allows Strive to issue shares into the market flexibly at prevailing prices. The SATA preferred stock carries a 12% dividend and an effective yield near 13%, modeled after Strategy's funding structure. While proceeds can be used for various purposes, including working capital and acquisitions, a primary goal is buying more bitcoin. Strive currently holds approximately 7,525 bitcoin, making it the 14th-largest publicly traded corporate holder. The company has also been active in market structure debates, urging index provider MSCI not to exclude companies with significant digital asset holdings from major equity benchmarks.

(Source：Bitcoin Magazine)