Saturn co-founder Ellis Osborn said the DeFi credit protocol used its own funds to participate in bitcoin-treasury company Strive’s SATS preferred-stock IPO, BlockBeats reported on Oct. 21.
Saturn’s participation
Osborn said the investment would not affect USDat, sUSDat or Saturn’s existing products and holders. He also said Saturn would explore offering similar instruments to global investors. The flash did not disclose Saturn’s investment amount or share allocation.
SATS terms
BlockBeats said SATS is a 15% annual fixed-rate, cumulative perpetual preferred stock that pays each business day. Its liquidation priority ranks below Strive’s floating-rate preferred stock SATA and above common stock ASST. Strive issued 7 million SATS shares at $90 each, raising about $630 million, with the transaction closing on Oct. 20.
These terms are reported financing details, not a return guarantee or investment recommendation. The flash did not link to a filing or settlement record, so readers should verify current terms through official disclosures.