India, Oct. 14 -- Strive, Inc. (ASST), a bitcoin-focused treasury and asset management company, said it plans an initial public offering of 5 million shares of its 15% Series A Perpetual SATS Preferred Stock.
Strive intends to use the net proceeds for general corporate purposes, including acquiring bitcoin and bitcoin-related products, purchasing income-generating assets, funding capital expenditures and working capital, repurchasing shares of its Class A common stock or SATA preferred stock, and financing acquisitions of complementary businesses, assets or technologies.
The SATS preferred stock will accrue cumulative dividends at an annual rate of 15% on a stated amount of $100 per share. Regular dividends on the SATS Stock will be payab...