# Strive Prices Upsized SATS Offering, Expects $630M Gross Proceeds

By John Kim

Canonical URL: https://www.tokenpost.com/news/business/33178
Published: 2026-10-16T10:32:57.000Z
Updated: 2026-10-16T10:32:57.000Z
Section: Business

> The 7 million shares were priced at $90 each. Strive has not specified how much of the proceeds will go toward Bitcoin purchases.

Strive priced an upsized preferred-stock offering expected to bring in about $630 million before expenses, expanding the sale as it seeks capital that may be used for Bitcoin and related products.

The company priced 7 million shares of its 15% Series A Perpetual SATS Preferred Stock at $90 each on Oct. 15, 2 million more than the 5 million shares in its initial proposal. The sale is scheduled to settle Oct. 20, subject to closing conditions.

The offering’s $700 million stated amount reflects 7 million shares at $100 each. At the $90 sale price, estimated gross proceeds are about $630 million before underwriting discounts, commissions and other expenses.

Strive may use net proceeds for Bitcoin (BTC) and related products, working capital, income-generating assets, capital spending, share repurchases or acquisitions. It has not specified how much, if any, will go toward Bitcoin purchases.

SATS shares carry cumulative dividends at an annual rate of 15% on a $100 stated value per share. Payments require board declaration and legally available funds, with regular dividend dates beginning Nov. 9.

Strive reported holdings of 32,773 Bitcoin as of Oct. 9 and purchased 2,822 more from Oct. 12-13, implying a total of 35,595 after that purchase.