- Strive (ASST) has launched a $500 million at-the-market (ATM) offering of its Variable Rate Series A Perpetual Preferred Stock (SATA).
- SATA provides a 12% dividend and trades below its $100 par value, currently near $91.
- Funds raised will support Bitcoin purchases, income assets, working capital, stock repurchases, or acquisitions, including the ongoing Semler Scientific acquisition.
- Strive holds approximately 7,525 bitcoin, ranking as the 14th-largest publicly traded bitcoin company.
- The company’s common stock trades near $1, showing a slight decline in pre-market activity.
Strive (ASST), a publicly traded bitcoin treasury and asset-management firm, announced an at-the-market offering of up to $500 million for its Variable Rate Series A Perpetual Preferred Stock (SATA) on Tuesday. The ATM offering enables the company to efficiently raise capital by selling shares near the current market price, which is around $91, below the $100 par value.
The SATA security delivers a 12% dividend, with an effective yield close to 13%, designed similarly to Strategy’s (MSTR) STRC perpetual preferred stock. Strive stated the funds raised could be used to acquire additional bitcoin, invest in income-generating assets, support working capital, repurchase common shares, or pursue acquisitions. The company is presently acquiring Semler Scientific (SMLR) as part of its expansion.
Currently, Strive holds roughly 7,525 bitcoin, positioning it as the 14th-largest publicly traded bitcoin company according to available data. The company’s common shares trade near $1 and were down about 2% in pre-market trading.
For more details, refer to the official announcement on the $500 million ATM offering and the definition of at-the-market offerings.
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