Nasdaq-listed Strive has launched a significant capital raise to fund its Bitcoin accumulation strategy, planning to raise $500 million through a new perpetual preferred stock offering. The company is offering 5 million shares at $100 per share, with proceeds specifically earmarked for purchasing additional Bitcoin. At the closing of the offering, Strive will establish a dividend reserve equal to 18 months of SATS dividend payments. The new SATS preferred stock will offer a fixed 15% dividend yield at par, positioning it junior to the company's existing SATA preferred stock, which currently pays a variable rate of 13%. Both SATS and SATA will pay dividends on a daily basis, similar to the company's current preferred stock structure. As per AMBCrypto, Strive believes SATS will attract income-focused investors while providing the company with additional capital to buy more Bitcoin and increase its Bitcoin exposure.
Strive has significantly expanded its Bitcoin holdings to 32,773 BTC, representing a dramatic increase from below 20,000 coins just three months ago. The company purchased 3,311 Bitcoin over the past week, paying approximately $82,300 per coin on average, including fees and expenses. This represents one of the company's largest weekly acquisitions since beginning its Bitcoin treasury expansion in 2025. The latest purchase increased Strive's Bitcoin balance by approximately 11.2%, raising it from the previously reported 29,462 BTC. The company's total Bitcoin holdings are currently worth approximately $2.697 billion, demonstrating the significant value creation from its treasury strategy. According to AMBCrypto, Strive has made 36 purchases since September 3, 2025, showing confidence in Bitcoin despite price drops from around $124,500 to $83,368.64 at press time.
CEO Matt Cole reported that investors exercised approximately $208 million worth of Strive warrants ahead of the October 13 deadline. As reported by Strive, approximately 15.3 million warrants remained outstanding before their scheduled expiration at 5 p.m. Eastern Time on October 13. The warrants carry an exercise price of $27 per share for the company's common stock, adjusted for previous reverse stock splits. An October 5 filing showed approximately 23.25 million shares underlying traditional warrants as of October 2, with their outstanding balance declining as investors exercised portions of their holdings. The warrant-linked shares dropped by 7,993,806 during the week, leaving 15,255,900 that holders can still exercise. According to AMBCrypto, this provides Strive with additional capital to support its Bitcoin strategy.
Strive's cash and cash equivalents rose $25.6 million to $310.3 million, even with the Bitcoin purchase on the books. According to the latest SEC filing, Class A common stock outstanding rose by 9,461,103 shares to 101,169,907, while Class B shares slipped by 12,885. This pushed effective common shares outstanding to 110,387,204. Assumed fully diluted shares reached 113,116,098, a measure that leaves the warrants out entirely. Options outstanding fell by 46,892 to 796,642, while unvested employee stock awards held flat at 1,932,252.
Strive's SATA stock, its Variable Rate Series A Perpetual Preferred Stock, grew by 532,094 shares to 14,030,176 outstanding. The company also holds 505,000 shares of Strategy's STRC preferred, the Variable Rate Series A Perpetual Stretch Preferred Stock issued by Strategy Inc. That stake carried a fair value of $50.3 million, up $126,000 on the week. Unlike most Bitcoin treasury companies, including larger peer Strategy, Strive has been able to significantly increase its Bitcoin holdings in recent weeks. The company uses capital raised through common shares and preferred stock to finance Bitcoin accumulation, with the company's treasury strategy seeking to increase Bitcoin attributable to each common share. As per AMBCrypto, Strive's stock price was trading at $27.59 after a drop of 0.12% in the past trading session but a hike of 82.92% in the year so far.
