Strive Plans to Carry Out an Initial Offering of SATS Preferred Shares

• Strive announced its intention to offer 5 million SATS preferred shares with an annual dividend of 15%.
• The company plans to use the proceeds raised, among other things, to buy bitcoin and related products.
• As part of the offering, Strive intends to set up a reserve to cover dividend payments for the first 18 months.

Nasdaq-listed Strive (ASST) announced plans to conduct an initial public offering of 5 million Series A perpetual preferred shares of SATS. 

The offering will be subject to market and other conditions. SATS shares will carry an annual dividend at a rate of 15% of the stated value of $100 per share.

The company plans to use the net proceeds from the offering for general corporate purposes. These include buying bitcoin and related products, boosting working capital, purchasing income-generating assets, and funding capital expenditures.

In addition, Strive may use the funds to repurchase its own Class A common stock or its Series A floating-rate preferred stock, SATA. The company is also considering acquiring businesses, assets, or technologies that complement its current operations.

At the closing of the offering, Strive intends to establish a reserve to cover dividend payments for the first 18 months. To do so, the company plans to deposit the equivalent of $22.50 per SATS share into an account funded with Strive’s cash and securities.

Terms for redeeming SATS shares

Strive will be able to redeem all outstanding SATS shares at its discretion if their total amount is less than 25% of the aggregate number of shares initially issued in this and future offerings. The company will also have this right in the event of certain tax events, the statement said.

SATS holders, for their part, will be able to demand the redemption of some or all of their shares in the event of a fundamental change as defined in the offering documents. In that case, the redemption price will be the shares’ stated value — $100 per share — plus any accrued and unpaid dividends, if any.

Regular dividend payment dates will fall on business days, starting on November 9, 2026. Payments will be made subject to declaration by Strive’s board of directors or an authorized committee.

Barclays and Cantor are acting as joint book-running managers. Clear Street is the lead manager, while B. Riley Securities, H.C. Wainwright & Co., Maxim Group LLC, and StoneX are serving as co-managers for the offering.

As a reminder, in August 2026, Strive acquired 1,110 BTC for $81.5 million following an additional share issuance. In addition, Lookonchain said that Strive bought another 3,311 BTC last week worth $276 million at a price of $84,500.

Сообщение Strive Plans to Carry Out an Initial Offering of SATS Preferred Shares появились сначала на INCRYPTED.