Key Takeaways
- • Strive, Inc. (Nasdaq: ASST) announced plans on Oct. 13, 2026 to offer 5,000,000 shares of its 15.00% Series A Perpetual Preferred Stock (SATS Stock) in an initial public offering, according to a press release.
- • Each share carries a $100 stated amount and a $0.001 par value, with cumulative dividends accruing at 15.00% annually; regular payment dates begin Nov. 9, 2026.
- • Strive plans to fund a dividend reserve equal to 18 months of payments, or $22.50 per share, at closing from existing cash and securities.
- • Proceeds are earmarked for general corporate purposes, including bitcoin acquisitions and bitcoin-related products, income-generating assets, working capital, capital expenditures, and potential repurchases of common or Variable Rate Series A Perpetual Preferred Stock.
- • Barclays and Cantor are joint book-running managers, Clear Street is lead manager, and B. Riley Securities, H.C. Wainwright & Co., Maxim Group LLC and StoneX are co-managers; the offering is made under an effective SEC shelf registration.
Summary
Strive, Inc. (Nasdaq: ASST) announced plans to offer 5,000,000 shares of its 15.00% Series A Perpetual Preferred Stock, known as SATS Stock, in an initial public offering, according to a press release issued October 13, 2026. The offering is being made under an effective shelf registration statement filed with the Securities and Exchange Commission. Press coverage of the announcement described the offering as roughly $500 million in size, a figure that is consistent with 5,000,000 shares at a $100 stated amount.
The shares carry a par value of $0.001 and a stated amount of $100 per share. Cumulative dividends accrue at an annual rate of 15.00% on the stated amount, payable when declared by the company's board of directors, with regular payment dates beginning November 9, 2026. To support these obligations, Strive plans to establish a dividend reserve at closing equal to 18 months of dividend payments, amounting to $22.50 per share, funded through existing cash and securities. The liquidation preference will initially be set at $100 per share and will be adjusted daily based on pricing criteria specified in the governing documentation.
Strive said it intends to use net proceeds for general corporate purposes, including acquiring bitcoin and bitcoin-related products, purchasing income-generating assets, working capital, capital expenditures, and potential repurchases of its Class A common stock or its Variable Rate Series A Perpetual Preferred Stock. Proceeds may also fund acquisitions of businesses, assets or technologies. Coverage noted the structure is designed to finance additional bitcoin purchases without diluting common shareholders.
Strive retains the right to redeem all outstanding SATS Stock if total shares outstanding fall below 25% of the total originally issued, or upon certain tax events. Holders may require the company to repurchase their shares upon a qualifying fundamental change event at the stated amount plus accumulated unpaid dividends.
Barclays and Cantor are serving as joint book-running managers, with Clear Street as lead manager and B. Riley Securities, H.C. Wainwright & Co., Maxim Group LLC and StoneX as co-managers. Strive Asset Management, LLC, a wholly owned subsidiary, manages over $2.8 billion in assets.
The shares carry a par value of $0.001 and a stated amount of $100 per share. Cumulative dividends accrue at an annual rate of 15.00% on the stated amount, payable when declared by the company's board of directors, with regular payment dates beginning November 9, 2026. To support these obligations, Strive plans to establish a dividend reserve at closing equal to 18 months of dividend payments, amounting to $22.50 per share, funded through existing cash and securities. The liquidation preference will initially be set at $100 per share and will be adjusted daily based on pricing criteria specified in the governing documentation.
Strive said it intends to use net proceeds for general corporate purposes, including acquiring bitcoin and bitcoin-related products, purchasing income-generating assets, working capital, capital expenditures, and potential repurchases of its Class A common stock or its Variable Rate Series A Perpetual Preferred Stock. Proceeds may also fund acquisitions of businesses, assets or technologies. Coverage noted the structure is designed to finance additional bitcoin purchases without diluting common shareholders.
Strive retains the right to redeem all outstanding SATS Stock if total shares outstanding fall below 25% of the total originally issued, or upon certain tax events. Holders may require the company to repurchase their shares upon a qualifying fundamental change event at the stated amount plus accumulated unpaid dividends.
Barclays and Cantor are serving as joint book-running managers, with Clear Street as lead manager and B. Riley Securities, H.C. Wainwright & Co., Maxim Group LLC and StoneX as co-managers. Strive Asset Management, LLC, a wholly owned subsidiary, manages over $2.8 billion in assets.
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