Strive Prices $630 Million SATS Preferred Offering at $90
The $100 dividend base implies a 16.7% simple annual yield at the offer price, above SATA's initial 15%.
AI summary
Strive priced a $630 million preferred offering of its SATS preferred stock at $90 per share, with a $100 dividend base implying a 16.7% simple annual yield. That yield is above the initial 15% on SATA. The deal is a capital-raising move for a bitcoin-focused company, but the pricing detail alone is unlikely to move broader crypto prices.
