⏱ 2 min read
Warrants raised about $369.2 million as 13.7 million Class A shares were issued; Strive also priced a 15% SATS preferred to settle Oct. 20.
Strive buys bitcoin worth about $335 million, adding 4,045 BTC between October 12 and 16 at an average of about $82,803 per coin, according to a regulatory filing published Monday. The filing and the report say the purchases lifted Strive’s holdings to 36,818 BTC from 32,773 a week earlier, which the report describes as just north of $3 billion at today’s prices.
Warrants funded most of the week’s buys
The report says the week’s cash came from warrant exercises. On October 12 and 13, investors exercised 273,493,909 warrants for 13,674,703 new Class A shares, raising about $369.2 million. Remaining traditional warrants expired unexercised on October 13, and the filing says none remain. Set against the week’s roughly $335 million of bitcoin purchases, that deployed about 0.91 of the fresh cash. The filing adds that Strive ended the week with $317.5 million in cash, up $7.2 million.
The report also notes that Class A shares outstanding rose from 101.2 million to 114.8 million in a week, about 13.5%. Issuing new shares to satisfy exercised warrants increases the number of shares outstanding, which reduces each existing holder’s percentage of the company unless the new capital earns it back.
▼ 0.70%
Prices as of 2026-10-20 01:02 UTC. Source: CoinGecko.
Preferred issue adds a fixed dividend layer
Separately, the report says Strive priced an upsized offering on October 15 of 7 million shares of a new 15% Series A Perpetual preferred stock, called SATS, at $90 each for expected gross proceeds of about $630 million. The offering is scheduled to settle on October 20, with regular dividend dates starting November 9. Preferred stock pays a set dividend when declared; here that is 15% of the $100 stated amount, or $15 a year, which is about 16.7% for buyers paying $90. The dividends are cumulative, and Strive plans to place $22.50 per share in a reserve to cover the first 18 months of payments. If dividends are declared on all 7 million shares, the annual outlay would be about $105 million.
The filing and the report establish the size and timing of the bitcoin purchases, the warrant-funded cash inflow and the preferred-stock terms. They do not state who exercised the warrants, or whether proceeds from the SATS issue will be used for additional bitcoin purchases.
Source: Decrypt.
This article was written with AI assistance and reviewed by an editor.
This content is for informational purposes only and does not constitute financial advice.
🧠 HafidWatch Take
Strive’s recent bitcoin acquisition, funded through warrants and preferred stock, strengthens its position but also commits the company to sizable dividend obligations totaling about $105 million annually. This layered financing approach may signal confidence in bitcoin’s long-term value while placing pressure on cash flow management. Whether the company uses additional preferred stock proceeds to expand its holdings remains a key factor that could influence future market moves and investor sentiment.
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