Strive raising $500 million to buy additional bitcoin with new preferred share class

Strive is undertaking a significant capital raise, aiming to secure $500 million, primarily with the objective of purchasing additional bitcoin. To achieve this, the company is introducing a new preferred share class, designated as SATS. These SATS shares are structured to provide investors with a fixed dividend yield of 15% at par. It is noted that these new SATS shares will be junior in priority to Strive's existing SATA shares, which currently offer a variable dividend rate of 13%. This initiative highlights an institutional effort to expand bitcoin holdings through structured financial products.