SATA vs STRK
SATASTRK
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In summary
Generated from the terms, not an opinionSATA pays a variable rate set by the issuer; STRK pays a fixed rate and can convert into common stock.
All are cumulative: unpaid dividends accrue.
SATA pays each business day, STRK pays quarterly.
They are issued by different companies (Strive, Inc., Strategy Inc.), so their claims rank against different balance sheets.
At the latest closes, effective yields were SATA 13.27%, STRK 11.39%, and prices stood at −2.02% vs par for SATA, −29.78% vs par for STRK.
Effective yield, six months
SATASTRKBitcoin, right axisTerms, aligned
Rows above the line move with price| Term | SATA Strive, Inc. | STRK Strategy Inc. |
|---|---|---|
| Last close | $97.98 | $70.22 |
| vs par | −2.02% | −29.78% |
| Effective yield | 13.27% | 11.39% |
| Stated rate | 13.00%, variable | 8.00%, fixed |
| Rate mechanism | Issuer may adjust the monthly rate at its sole discretion with notice before the period starts. Cuts limited to 25bp plus the decline in monthly SOFR over the prior period, may not go below monthly SOFR, and are only allowed if all accumulated dividends are paid and the prior period's average price is >= $99 (and, for the first 3 months, a 20-day average above $100). | Fixed |
| Cumulative | Yes | Yes |
| Frequency | each business day | quarterly |
| Next payment | 30 Nov 2026 | — |
| Rank within issuer | 1 (1 = most senior preferred) | 4 (1 = most senior preferred) |
| Redemption | Optional redemption of all or part at $110 (or higher at issuer's discretion) plus accumulated dividends, any time after listing; partial only if >= $50m stated amount stays outstanding. Also clean-up (<25%) and tax redemptions at liquidation preference. | Clean-up redemption if aggregate liquidation preference outstanding < 25% of that issued in the IPO; tax redemption at greater of liquidation preference and 5-day average price. No general optional call. |
| Conversion | None | Holder may convert any business day at 0.1000 MSTR shares per STRK share (initial conversion price $1,000.00), subject to anti-dilution adjustment. |
| Listing, currency | Nasdaq, USD | Nasdaq, USD |
| Terms as of | 13 Oct 2026 | 7 Jul 2025 |