Bitcoin treasury company Strive plans to raise $500 million with the launch of a preferred stock offering featuring a 15% annual fixed dividend.

BlockBeats news, October 14: Bitcoin treasury company Strive (ASST) announced the launch of perpetual preferred stock SATS, planning to issue 5 million shares at $100 per share to raise $500 million. The proceeds will be used to increase Bitcoin holdings, acquire yield-generating assets, or repurchase shares.

SATS will offer a fixed annual dividend of 15%, paid daily, with liquidation and dividend priority ranking below Strive's existing perpetual preferred stock SATA, which currently has a dividend rate of 13%. Strive also plans to establish a dividend reserve at the completion of the offering, equal to the dividend payments for the first 18 months of SATS.

In terms of Bitcoin holdings, Strive increased its holdings by 3,311 BTC last week, bringing its total holdings to 32,773 BTC, valued at approximately $2.7 billion at current prices. Three months ago, the company's holdings were less than 20,000 BTC.