Strive Announces Proposed Initial Public Offering of SATS Stock
Strive, Inc. announced a proposed IPO of 5,000,000 shares of 15.00% Series A Perpetual SATS Preferred Stock, implying roughly $500 million at the $100 stated amount, subject to market conditions. The preferred accumulates cumulative dividends at 15.00% per annum, and Strive plans to reserve $22.50 per share — the first 18 months of dividends — at closing. Proceeds are earmarked for general corporate purposes including bitcoin acquisitions, income-generating assets, potential buybacks, and acquisitions.
Key figures
- Shares Offered
- 5000000
- Dividend rate
- 15.00% per annum
- Asset management aum
- $2.8 billion
- Implied gross proceeds
- $500 million at stated amount
- Stated amount per share
- 100
- Dividend reserve per share
- $22.50 (first 18 months of dividends)
AI analysis
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