Strive: SATS preferred stock IPO upsized to 7 million shares, expected to raise $630 million

PANews October 16 news, according to Globenewswire, Bitcoin treasury company Strive has expanded the IPO size of its SATS 15% Series A perpetual preferred stock by 2 million shares to 7 million shares, at a public offering price of $90 per share. Subject to customary closing conditions, the issuance and sale of the SATS shares are expected to close on October 20, 2026. Strive expects the gross proceeds from this offering to be approximately $630 million, before deducting underwriting discounts, commissions, and estimated offering expenses payable by the company.