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Strive (ASST) Buys 6,182 Bitcoin For $511 Million, Lifts Treasury To 43,000 BTC

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Strive (ASST) Buys 6,182 Bitcoin For $511 Million, Lifts Treasury To 43,000 BTC

Bitcoin Magazine

Strive (ASST) Buys 6,182 Bitcoin For $511 Million, Lifts Treasury To 43,000 BTC

Strive, Inc. (ASST) acquired 6,182 bitcoin for $511.4 million between October 17 and October 23, according to an SEC filing published on Monday. The company paid an average price of $82,732 per bitcoin.

The purchase lifts Strive’s holdings to 43,000 BTC. Cash and marketable securities rose by $187.7 million to $554.6 million over the same period.

The buy comes one week after Strive closed its upsized initial public offering of SATS, its 15% Perpetual Series A Preferred Stock. The company sold 7 million shares at $90 each for $630 million in gross proceeds. Dividends accrue at 15% on a $100 stated amount, which works out to a 16.67% yield at the issue price. Payments, if declared by the board, start November 9 and land on each business day.

Strive opened the SATS offering with a $500 million target and raised the size by 2 million shares on demand. The stock trades on the Nasdaq. The company has set aside a $157.5 million dividend reserve, which covers 18 months of payments on the new shares.

JUST IN: 🇺🇸 Public company Strive purchases 6,182 Bitcoin for $511.4 million! 🤯 pic.twitter.com/5KImRceLzA

The filing disclosed a new at-the-market program under which the company can sell up to $1 billion of SATS over time. Cantor Fitzgerald, Barclays, Clear Street, StoneX, B. Riley Securities, Maxim Group and H.C. Wainwright serve as sales agents.

The structure mirrors the one Strive built for SATA , its first preferred stock, which carries a variable dividend and pays cash each business day.


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