Bitcoin treasury firm Strive wants another $130 million on top of a previously announced $500 million IPO to buy more $BTC and grow its business.
Last Tuesday, Strive announced plans to raise $500 million through a Series A IPO that would sell 5 million shares, priced at $100 each, of the perpetual preferred stock SATS.
Strive has since announced that it’s selling 7,000,000 shares at $90 per share, an increase of $130 million.
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As well as buying more $BTC, Strive claims the funds will be used to acquire $BTC-related products, working capital, assets, and other businesses to help grow the company. The funds will also be used to purchase Strive’s Class A common stock.
The stock’s 15% fixed-rate cumulative dividend will remain at 15% of $100 per share.
Strive’s offering will settle on October 20, 2026. The $BTC treasury firm then expects to increase its dividend reserve equal to the first 18 months of SATS dividend payments.
Strive suffered $6M drawdown buying Strategy shares
In March, Strive chose to swap a third of its cash holdings, worth $50 million, to purchase shares in Michael Saylor’s $BTC firm Strategy.
The paper losses stemming from the STRC purchase by July stood at $6.3 million.
Despite this, the price of Strive shares has since risen 125% from July.
The firm’s CEO, Matt Cole, also announced last Wednesday that it spent $235 million to purchase 2,822 $BTC. It exercised 273 million traditional warrants to purchase 13.6 million Class A common stock shares, netting it $369.2 million.
Strive, via its asset management subsidiary, manages over $2.8 billion in assets and now holds 35,595 $BTC, worth $2.9 billion at today’s prices.
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