Strive Upsizes SATS Preferred IPO to 7 Million Shares, Raising About $630 Million

Strive has upsized its 15% Series A Perpetual SATS Preferred Stock IPO by 2 million shares to 7 million shares, priced at $90 per share. Gross proceeds are expected to be about $630 million before underwriting discounts, commissions and offering expenses. Settlement is scheduled for October 20. Proceeds will be used for general corporate purposes, including bitcoin and bitcoin-related products, working capital, income-generating assets, capital expenditures, share repurchases and potential acquisitions. — link