Strive Closes $630 Million SATS Offering, Holds 36,818 BTC

Strive said it completed a $630 million preferred-stock offering and reported holdings of 36,818 Bitcoin after buying 4,045 BTC earlier in October, while leaving open how much of the new proceeds it will use for further purchases. The company sold 7 million shares of its Series A Perpetual SATS preferred stock at $90 each, for $630 million in gross proceeds. Strive said the offering had closed. Estimated net proceeds are $608.15 million after discounts, commissions and expenses, according to a figure reported by BitcoinTreasuries.net. A filing with the U.S. Securities and Exchange Commission said Strive acquired 4,045 BTC from October 12 to 16 at an average price of $82,803 per coin, including fees and expenses. That brought its reported holdings to 36,818 BTC. The filing-based total covers the same period as two reported purchases: 2,822 BTC and a further 1,223 BTC. Strive has not disclosed how much of the SATS proceeds, if any, it will direct to Bitcoin. Its offering documents list a range of possible uses, including Bitcoin purchases, working capital, income-generating assets, capital expenditures, share repurchases and acquisitions. The proceeds could therefore support...