Strive expands Bitcoin reserve to 36,818 BTC after $335 M purchase funded by warrant proceeds
Strive Inc. bought 4,045 Bitcoin between Oct. 12 and Oct. 16 for roughly $335 million, raising its total holdings to 36,818 BTC. The acquisition was financed by $369.2 million generated from the exercise of 273.5 million warrants, which also increased the share count. The company has priced a $700 million SATS preferred stock offering, targeting about $630 million in net proceeds, and set aside $22.50 per share for an 18‑month dividend reserve.
Why it matters
The warrant exercise and preferred‑stock issuance dilute existing shareholders, while the net proceeds are earmarked for further Bitcoin purchases, potentially altering the company’s asset composition and cash balance (the company says).
Key facts
- 1Strive now holds 36,818 BTC after purchasing 4,045 BTC between Oct 12 and Oct 16. tradingview.com
- 2The 4,045 BTC were bought for approximately $335 million, at an average price of about $82,803 per coin including fees. tradingview.com
- 3Warrant exercises generated roughly $369.2 million in gross proceeds. tradingview.com
- 4Strive priced a 7 million‑share SATS preferred stock offering with a stated amount of $700 million, expecting to raise about $630 million before underwriting costs. finance.yahoo.com
- 5Cash and cash equivalents rose to $317.5 million from $310.3 million. finance.yahoo.com
- 6The company set aside $22.50 per SATS share to fund an 18‑month dividend reserve. finance.yahoo.com
Summary written by AlphAI AI Desk from 5 of 5 sources. Not investment advice. Figures are as stated by the linked sources.