Strive Announces 15% SATS Preferred Stock IPO to Fund Bitcoin Acquisition

Strive is funding Bitcoin purchases with preferred stock

Notably, Strive already has one existing preferred stock under the ticker SATA. Together with SATS, both instruments optimize the firm’s Bitcoin-backed corporate balance sheet.

However, Strive is offering a higher yield on SATS (15%) as compared to SATA (13%). The difference compensates shareholders for taking a subordinate position on the new shares as compared to the current ones.

At press time, SATA was trading at $98.96 in after-hours, up 3.89% year-to-date (YTD).

Source: MarketWatch

Bitcoin treasury companies

At the time of writing, Strive ranked fifth out of 100 public Bitcoin treasury companies, holding 32,773 $BTC. Strategy remains the leader with 848,250 $BTC, followed by Metaplanet at 44,000 $BTC.

Source: Bitcoin Treasuries

Both Strive and Strategy utilize shares to raise capital for funding their Bitcoin accumulation models. Strategy, however, offers a lower annualized dividend of 8%-12% depending on the specific class. Additionally, Strategy is actively proposing a shift to daily payouts across its shares, mimicking Strive’s SATA stock architecture.