Strive raises $630 million via SATS preferred stock offering

Bitcoin treasury company Strive has closed an upsized $630 million offering of its 15% Series A Perpetual Preferred Stock, known as SATS. The company sold seven million shares at $90 each, a 40% increase from its initial plan. The security is expected to list on the Nasdaq Global Market under the ticker SATS.

The SATS shares carry a 15% fixed annual dividend based on a $100 stated value, which is scheduled to be paid daily on business days starting November 9, 2026. CEO Matt Cole described the transaction as a critical milestone to expand funding options and support the company’s credit profile.

In tandem with this capital raise, Strive has aggressively expanded its Bitcoin holdings. Between October 12 and October 16, the company acquired 4,045 BTC for approximately $335 million. This brings Strive’s total holdings to 36,818 BTC, valued at over $3 billion, making it the fourth-largest publicly traded company by Bitcoin reserves. The company intends to use the new proceeds to purchase more Bitcoin and other income-generating assets.