Strive's $630 Million SATS Raise Leaves Bitcoin Purchase Size Open

Strive closed a $630 million preferred-share offering on Oct. 20, giving the Bitcoin (BTC) treasury company capital for possible purchases while leaving the amount earmarked for the asset unspecified. Strive sold 7 million SATS shares at $90 each. After underwriting discounts and estimated expenses, the offering was expected to bring in about $608.15 million. The company listed Bitcoin purchases among possible uses of the proceeds, along with working capital, income-producing assets, capital spending, share repurchases and acquisitions.