Strive’s SATS: How 15% Yield Becomes A Bitcoin Accretion Machine
By Allard Peng
AI summary of the source article
Strive has IPO’d its SATS perpetual preferred stock, featuring a $100 stated amount and a 15% fixed cumulative dividend. If traded above par, new issuances could allow the company to fund Bitcoin purchases while growing Net Bitcoin Per Share.
Why it matters
The text states that "the above-par issuance premium can therefore become genuine residual asset value for common shareholders, when we consider the Net BPS metric."
Key facts
- SATS carries a fixed annual cumulative dividend of $15 per share based on a $100 stated amount.
- SATS ranks junior to Strive's SATA preferred stock, which pays a variable annualized dividend currently at $13 per share.
- SATS features a floating liquidation preference that adjusts based on recent closing prices, subject to a $100 floor.
Source excerpt · Bitcoin Magazine
Bitcoin Magazine Strive’s SATS: How 15% Yield Becomes A Bitcoin Accretion Machine On the accretive potential of the SATS preferred stock. This post Strive’s SATS: How 15% Yield Becomes A Bitcoin Accretion Machine first appeared on Bitcoin Magazine and is written by Allard Peng .