Strive (ASST) plans an initial public offering of 5 million of its 15% Series A Perpetual SATS preferred stock.
Net proceeds will be used for general corporate purposes, including the acquisition of bitcoin and bitcoin-related products, working capital, income-generating assets, capital expenditures, and potential repurchases of existing equity, Strive said Tuesday in a statement.
Strive's Series A Perpetual SATS preferred stock carries a 15% annual dividend on a $100 stated amount, features a daily-adjusting liquidation preference, and includes an 18-month dividend reserve funded at closing.
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