POPA ReconStrive opens $1B ATM program for SATS preferred stock, may fund Bitcoin purchases
Strive opens $1B ATM program for SATS preferred stock, may fund Bitcoin purchases According to an SEC filing, Strive entered into an at-the-market sales agreement with Cantor Fitzgerald, Barclays and five other firms to sell up to $1 billion of its Series A perpetual preferred stock, SATS. The shares carry a 15% annual cumulative dividend rate based on a $100 liquidation preference. Strive said net proceeds may be used for general corporate purposes, including Bitcoin purchases, working capital, income-generating investments and repurchases of common or preferred stock. — link
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