Strive closes $630 million SATS preferred stock IPO

• Strive (NASDAQ:ASST) closed its upsized initial public offering of seven million SATS preferred shares.
• The offering priced shares at $90 each, generating $630 million in gross proceeds before fees and expenses.
• SATS carries a 15% annual dividend rate on its $100 stated value, with trading on Nasdaq expected around 20 October 2026.

Strive (NASDAQ:ASST) has closed its upsized initial public offering of seven million SATS preferred shares, raising $630 million in gross proceeds.

The shares were priced at $90 each and were expected to begin trading on the Nasdaq Global Market around 20 October under ticker SATS.

“The successful, upsized IPO of SATS marks a critical milestone in our strategy to maximize long-term total returns for our common equity investors,” according to Strive Chairman and Chief Executive Officer Matt Cole.

SATS accumulates dividends at an annual rate of 15% on its $100 stated value, although payments depend on board declarations and legally available funds.

Strive said the new security is designed to provide income stability, complementing its existing SATA preferred stock, which it positions around price stability.

The company intends to use net proceeds for general corporate purposes, potentially including Bitcoin purchases, income-generating assets, working capital and share repurchases.

Strive said SATS adds capital beneath SATA in its structure, while its investment strategy uses Bitcoin (BTC) as a benchmark for capital deployment.

The new preferred stock gives investors another way to gain exposure to Strive’s Bitcoin-focused capital strategy.