Strive, Inc. Prices Upsized $630 Million SATS Preferred Stock Offering

Key numbers

Deal value	$630M
Share of market cap	28.7%

Key highlights

• Offering upsized by 2,000,000 shares over the previously announced volume to reach 7,000,000 shares
• Fixed dividend rate of 15.00% per annum on a stated amount of $100 per share
• Gross proceeds of $630 million before underwriting discounts and estimated offering expenses
• Establishment of an 18-month dividend reserve funded at $22.50 per share of SATS Stock
• Proceeds earmarked for bitcoin acquisitions, share repurchases, and income-generating assets

What Is the Capital Raise?

Strive, Inc. has structured this capital raise as an initial public offering of its Series A Perpetual SATS Preferred Stock, pricing 7,000,000 shares at $90.00 each. The securities carry a $100.00 liquidation preference and will pay cumulative dividends daily, starting November 9, 2026. Barclays Capital Inc. and Cantor Fitzgerald & Co. are acting as joint book-running managers for the transaction, which is scheduled for settlement on October 20, 2026. The company has included a specific provision to increase its existing dividend reserve by depositing $22.50 per share into a dedicated account, ensuring coverage for the first 18 months of scheduled payments.

Use of Proceeds

• Direct acquisition of bitcoin and bitcoin-related products to strengthen treasury holdings
• Funding for the purchase of income-generating assets to drive business growth
• Potential repurchases of Class A Common Stock or Variable Rate Series A Perpetual Preferred Stock
• Strategic acquisitions of businesses, assets, or technologies that complement the current platform
• General corporate purposes and working capital to support operational scaling

Strategic Rationale

This offering aligns with management's objective to maintain an Amplification Ratio above 60% while bitcoin remains valued below $100,000. By issuing high-yield perpetual preferred stock, Strive is utilizing a hybrid capital instrument to aggressively expand its digital asset exposure without immediate common equity dilution. The structure provides the company with significant liquidity to execute its dual-mandate of asset management growth and bitcoin treasury accumulation. Furthermore, the inclusion of redemption rights for certain tax events and fundamental changes provides a structured framework for long-term capital management within the volatile digital asset sector.

Financial Context

• Company previously raised $150 million through a follow-on offering of SATA Stock in January 2026
• Current at-the-market equity programs allow for up to $950 million in additional common and preferred issuance
• Market capitalization has reached approximately $2.19 billion following a 106% quarterly price gain
• Strive maintains a lean revenue profile with $2.94 million reported in its most recent fiscal quarter
• Private placement activity in mid-2025 contributed over $750 million to the balance sheet prior to the current IPO

Down 7.0% over the last month ($27.57 on 15 Sep → $25.65 on 15 Oct). Daily closing prices. Source: Yahoo Finance.

Show the prices

15 Sep	$27.57
16 Sep	$27.41
17 Sep	$28.28
18 Sep	$30.09
21 Sep	$30.33
22 Sep	$29.35
23 Sep	$28.99
24 Sep	$29.94
25 Sep	$29.44
28 Sep	$29.00
29 Sep	$29.31
30 Sep	$29.41
1 Oct	$30.11
2 Oct	$30.03
5 Oct	$30.26
6 Oct	$29.75
7 Oct	$28.18
8 Oct	$28.23
9 Oct	$27.80
12 Oct	$27.71
13 Oct	$27.59
14 Oct	$24.68
15 Oct	$25.65

Strive, Inc. · financial snapshot

Share price	$25.65
Market cap	$2.2B
Revenue (annual)	$4M
1-month price change	-6.96%
Sector	Financial ServicesAsset Management

Reference market data from a third-party provider, as of the story. Not a valuation or a recommendation.