From TokenPost · · 40s
Strive Closes $630M SATS Preferred Stock Offering
Strive completes $630 million SATS preferred stock sale with dividend rules.
In brief
Strive completes $630 million SATS preferred stock sale with dividend rules. Strive closed its $630 million offering of SATS preferred shares on Oct. 20, requiring board approval for cash dividends. Originally reported by TokenPost.
Offering Details
Strive closed its $630 million SATS preferred stock offering on Oct. 20, issuing shares with cumulative dividends requiring board approval for cash payments.
Dividend Structure
The shares accrue 15% annual dividends on a $100 stated amount, with no interest on unpaid dividends and no maturity date.
Payment Schedule
Dividends begin accruing from Oct. 20, with regular payments starting Nov. 9, including accrued dividends from after the closing date.
The one thing
Strive closed its $630 million offering of SATS preferred shares on Oct. 20, requiring board approval for cash dividends.
