Bitcoin treasury company Strive (ASST) has introduced a new perpetual preferred stock called SATS, offering investors a fixed annual dividend rate of 15% at par value. The new shares will rank below the company’s existing SATA preferred stock, which currently pays a variable dividend of 13%.

Strive announced the new share class on Tuesday evening as it seeks to raise $500 million to support its investment strategy.

The company plans to sell 5 million SATS shares at $100 each, with the proceeds earmarked for additional Bitcoin (BTC) purchases, income-generating investments or share repurchases.

SATS will have a lower priority than SATA in the company’s capital structure. While SATA’s dividend rate fluctuates and currently stands at 13%, SATS will maintain a fixed 15% rate. Both preferred share classes will pay dividends daily.

Following the offering’s completion, Strive intends to establish a reserve covering the first 18 months of dividend payments on SATS.

Strive has also been expanding its Bitcoin reserves faster than many other corporate treasury firms, including the much larger Strategy.

Last week, the company acquired 3,311 Bitcoin, lifting its total holdings to 32,773 BTC, worth approximately $2.7 billion. Just three months earlier, Strive’s Bitcoin holdings remained below 20,000 coins.