Strive Completes Upsized $630 Million SATS Preferred Stock IPO, Fueling Bitcoin Treasury Strategy

Strive has officially closed its upsized initial public offering of 15.00% Series A Perpetual Preferred Stock (trading under the Nasdaq ticker SATS), raising approximately $630 million in gross proceeds.
While the company indicated that proceeds are intended for general corporate purposes—including potential Bitcoin acquisitions—it left the exact allocation for future BTC purchases unspecified. Issued at $90 per share against a $100 stated value, the instrument carries a lucrative 15% annual cumulative dividend, underscoring how corporate treasury strategies continue to leverage high-yield preferred equity structures to expand digital asset reserves.