Strive Adds 3,311 Bitcoin as Warrants Covering 15.3 Million Shares Near Expiry

Holders of Strive‘s traditional warrants have exercised $208 million worth ahead of their 5 p.m. ET expiry on Tuesday, CEO Matt Cole wrote on X, adding that roughly 15.3 million remained. That figure matches the count of shares underlying the outstanding warrants in a company filing, not the number of warrants themselves.

The Nasdaq-listed bitcoin treasury company also disclosed that it bought 3,311 BTC between Oct. 5 and Oct. 9 at an average of about $84,500 a coin, fees included. That took its stack from 29,462 BTC on Oct. 2 to 32,773 BTC a week later. Cash and cash equivalents rose to about $310.3 million over the same stretch.

Get Unchained’s crypto news in your inbox with the free Unchained Daily newsletter.

The Oct. 13 filing shows the number of shares underlying Strive’s traditional warrants falling by 7,993,806 in the week to Oct. 9, to 15,255,900. Exercising a warrant requires the holder to pay the exercise price to Strive. Class A shares outstanding grew by about 9.46 million during that week, a count that also includes shares sold through 4 p.m. and issued the next business day.

Neither the filing nor Cole’s post says over what period the $208 million in exercises came in, and no final tally had been published as of writing. “$208M in warrants exercised; ~15.3M remain, expiring today at 5pm ET,” Cole posted.

On Sept. 2, Cole said on a podcast that more than $700 million of warrants were set to expire in mid-October and that the proceeds could go toward more bitcoin if holders exercised them. Strive had reported 23,156 BTC as of Aug. 28.

In a second filing, Strive said it amended the terms of its Variable Rate Series A Perpetual Preferred Stock (SATA) with the Nevada Secretary of State so the company cannot sell new SATA shares below $100 each, before discounts and fees. The change is meant to “formalize the Company’s previously announced policy of not issuing SATA below $100.00” by making it binding under the stock’s governing documents. Cole called the floor “a binding restriction in governing docs, formalizing the protection.”

The same amendment redefined a business day to include weekends, so SATA could pay daily dividends on Saturdays and Sundays if the New York Fed, Nasdaq and the Depository Trust Company allow it. Strive said it does not expect its near-term dividend cadence to change.

The board held SATA’s annual dividend rate at 13.00% for periods starting Nov. 1 and declared a daily cash dividend of $0.0571 a share for each of November’s 19 business days. SATA shares outstanding rose by 532,094 to 14,030,176 in the week to Oct. 9.

Related Listen: Why Matt Cole Believes Last Week’s STRC Crash Was a Leverage Liquidation

{"@context":"http:\/\/schema.org\/","@id":"https:\/\/unchainedcrypto.com\/strive-adds-3311-bitcoin-as-warrants-covering-15-3-million-shares-near-expiry\/#arve-youtube-onrowtxcoyg","@type":"VideoObject","embedURL":"https:\/\/www.youtube-nocookie.com\/embed\/oNROWTxcOYg?feature=oembed&iv_load_policy=3&modestbranding=1&rel=0&autohide=1&playsinline=1&autoplay=0"}

The post Strive Adds 3,311 Bitcoin as Warrants Covering 15.3 Million Shares Near Expiry appeared first on Unchained.