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Strive plans to issue SATA preferred shares to raise funds to increase Bitcoin holdings, with an initial annual interest rate of 12%.
PANews, November 4th 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 of 12%, and monthly cash dividends. The funds raised will be used to increase holdings of Bitcoin, operational expansion, and potential stock buybacks. This move draws on MicroStrategy's financing model to drop the dilution risk of common stock. Currently, Strive holds nearly 6,000 BTC and plans to increase to about 11,000 BTC after acquiring Semler.