SATS vs STRK
SATSSTRK
Permanent link to this comparison
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In summary
Generated from the terms, not an opinionSATS pays a fixed rate; STRK pays a fixed rate and can convert into common stock.
All are cumulative: unpaid dividends accrue.
SATS 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 SATS 15.76%, STRK 11.39%, and prices stood at −4.80% vs par for SATS, −29.78% vs par for STRK.
Effective yield, six months
SATSSTRKBitcoin, right axisTerms, aligned
Rows above the line move with price| Term | SATS Strive, Inc. | STRK Strategy Inc. |
|---|---|---|
| Last close | $95.20 | $70.22 |
| vs par | −4.80% | −29.78% |
| Effective yield | 15.76% | 11.39% |
| Stated rate | 15.00%, fixed | 8.00%, fixed |
| Rate mechanism | Fixed | Fixed |
| Cumulative | Yes | Yes |
| Frequency | each business day | quarterly |
| Next payment | 9 Nov 2026 | — |
| Rank within issuer | 2 (1 = most senior preferred) | 4 (1 = most senior preferred) |
| Redemption | Clean-up (<25% of all SATS ever issued outstanding) and tax redemptions only, at liquidation preference plus accumulated dividends. No general optional call. | 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 | 20 Oct 2026 | 7 Jul 2025 |