Strive Plans $500 Million Preferred Stock IPO to Expand Bitcoin Holdings

Bitcoin treasury firm Strive has unveiled plans to raise $500 million through an initial public offering of 5 million Series A Perpetual Preferred shares, trading as SATS, at $100 per share. The new shares offer an annualized cumulative dividend yield of 15.00%, supported by an upfront 18-month dividend reserve of $22.50 per share. Proceeds are earmarked primarily to acquire additional Bitcoin, alongside income-generating assets, working capital, and potential share repurchases. Strive holds 32,773 BTC worth roughly $2.7 billion following recent acquisitions, positioning it as the fifth-largest public corporate Bitcoin treasury.