Financing ·
Strive closes $630M IPO of 7M shares of 15% Series A Perpetual SATS Preferred Stock
ASSTStrive, Inc.
Strive, Inc. closed its upsized initial public offering of 7,000,000 shares of its 15.00% Series A Perpetual SATS Preferred Stock at a public price of $90 per share, raising approximately $630 million in gross proceeds. The company filed a Certificate of Designation with the Nevada Secretary of State to establish the terms of the stock, which carries a stated amount and liquidation preference of $100 per share. Regular cumulative dividends accrue at an annual rate of 15.00% on the stated amount and are payable daily when declared by the board, beginning November 9, 2026. At closing, Strive increased its dividend reserve by depositing $22.50 per share into a dedicated account to fund the first 18 months of payments. The SATS Stock trades on Nasdaq under the ticker symbol SATS and ranks senior to common stock but junior to existing Variable Rate Perpetual Preferred Stock (SATA). Strive is a structured finance company that manages assets and employs Bitcoin as its primary capital deployment strategy.