Movement Alert｜Strive Falls 8.08% in Regular Trading, Launches $1 Billion At-The-Market Preferred Stock Program

Market Focus10-27

On October 27, Strive fell 8.08% in Regular Trading, trading at $26.615 per share, with turnover of $145 million.

The move followed the company’s disclosure that it had signed an agreement to issue and sell up to $1 billion of 15% Series A perpetual SATS preferred stock through an at-the-market program.

According to the filing, net proceeds may be used for general corporate purposes including buying bitcoin and bitcoin-related products, working capital, income-generating assets, capital expenditures, buybacks, acquisitions, dividends, or future debt repayment. The announcement came shortly after Strive completed an upsized IPO of 7 million SATS preferred shares at $90 each, raising $630 million gross.

The financing update also arrives after Strive said it spent about $510 million last week to buy 6,182 bitcoin at an average price of $82,732, lifting total holdings to roughly 43,000 bitcoin. The rapid pace of capital raising and bitcoin accumulation appears to be the central event tied to the stock’s weakness.

(The above content is based on publicly available market information, generated by a program or algorithm, and is intended solely as a stock movement alert. It does not constitute investment advice or a basis for trading decisions.)

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