Strive prices upsized IPO of preferred stock at $90 per share

Strive, Inc. (ASST) has successfully priced its IPO of 7,000,000 shares of 15.00% Series A Perpetual Preferred Stock, also known as SATS Stock, at $90 per share on October 15, 2026. The offering was expanded by 2,000,000 shares beyond the originally announced amount, with an estimated gross proceeds of $630 million before fees. The company plans to utilize the net proceeds for various purposes, including investments in bitcoin and bitcoin-related products, working capital, income-generating assets, capital expenditures, and potential repurchases of Class A common stock.

The SATS Stock will accrue cumulative dividends at 15.00% per annum on a stated $100 per share, with regular dividend payments beginning on November 9, 2026. Barclays and Cantor are serving as the joint book-running managers, while Clear Street acts as the lead manager. The offering is under an effective shelf registration statement with the Securities and Exchange Commission, and Strive's subsidiary manages over $2.8 billion in assets.

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