Strive signed contracts with seven institutions, planning to issue up to 1 billion dollars in preferred stock through ATM

According to disclosures from the U.S. SEC, Bitcoin Treasury Company Strive has signed a sales agreement with seven institutions including Cantor Fitzgerald, Barclays, Clear Street, StoneX, B. Riley Securities, Maxim Group, and H.C. Wainwright, planning to periodically sell up to 15% of Series A perpetual preferred stock with a total issuance price of up to $1 billion through ATM (at-the-market) offerings, with the stock ticker SATS.

The document shows that the annual dividend yield for the preferred stock issued this time is 15%, with a set amount of $100 per share. Strive may issue shares based on market conditions through existing trading markets such as Nasdaq or other legal means, with the relevant institutions acting as sales agents, with a commission of up to 2% of the total proceeds from each sale.

This issuance is considered an additional offering and does not include the previously issued 7 million shares of SATS preferred stock. The document states that Strive may issue shares periodically based on market conditions, and the actual issuance scale and timing will depend on the company's arrangements and market conditions.