Strive Preferred SATS completes $630 million IPO and lists on Nasdaq

On October 20, Strive's preferred stock (ticker: SATS) completed its $630 million initial public offering (IPO) and officially began trading on Nasdaq. The proceeds will be used to increase holdings in Bitcoin and other yield-generating assets. The preferred stock provides a 15% annualized fixed dividend paid daily, with the first dividend expected to be distributed on November 9.