Strive plans to issue SATA preferred shares to raise funds for increasing its bitcoin holdings, with an initial annual interest rate of up to 12%.
ChainCatcher news, according to CoinDesk, Nasdaq-listed asset management company Strive (ASST) announced plans to issue 1.25 million shares of SATA preferred stock, with an initial annualized dividend rate of 12%, monthly cash dividends, and the funds raised will be used to increase bitcoin holdings, expand operations, and potentially repurchase shares.
This move draws on the MicroStrategy financing model to reduce the risk of common stock dilution. Currently, Strive holds nearly 6,000 BTC, and after the planned acquisition of Semler, this is expected to increase to about 11,000 BTC.
Disclaimer: The content of this article solely reflects the author's opinion and does not represent the platform in any capacity. This article is not intended to serve as a reference for making investment decisions.
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