Strive, a Bitcoin treasury company, completes $630 million preferred stock issuance with an effective yield close to 17%

Strive, a Bitcoin treasury company, has completed a $630 million preferred stock issuance, raising approximately 25% more than initially planned. The preferred stock has a nominal annual yield of 15% and was issued at a discount, resulting in an effective yield close to 17%, significantly higher than the yield on high-rated U.S. Treasury bonds for one year. Meanwhile, the annual dividend yield for Strategy's preferred stock STRC is 12%, and it has not issued any more shares since the price drop in June. It is now seeking to promote daily dividends and raise funds through the issuance of common stock to purchase Bitcoin, which may lead to dilution of existing shareholders' equity.