The Hidden Trade Behind Strive’s 16.7% Bitcoin Income Offer
Key Highlights: Strive is raising an upsized $630 million before expenses through perpetual preferred SATS shares offered at $90 each, scheduled to settle on Oct. 20. While SATS carries a $100 liquidation preference and a $15 annual dividend—yielding an effective 16.7% cash rate at offering—it lacks a maturity date, leaving investor exits subject to secondary ...