Strive Plans $500 Million Raise to Add Bitcoin
Strive plans to raise $500 million through a new preferred share class, SATS, to fund additional bitcoin purchases, according to CoinDesk.
Strive is seeking $500 million in funding to buy more bitcoin through a new class of preferred shares, CoinDesk reported.
The new shares, designated SATS, will carry a fixed dividend yield of 15% at their par value.
SATS will rank below Strive’s existing SATA preferred shares. SATA pays a variable dividend rate that currently stands at 13%, compared with the fixed rate planned for SATS.
Source: CoinDesk
