Strive Prices an Upsized $630 Million Preferred Stock Offering to Fund Its Bitcoin Strategy

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• Strive priced an upsized initial public offering of 7,000,000 shares of its new 15.00% Series A Perpetual SATS Preferred Stock at $90.00 per share on October 15, 2026
• The offering, upsized by 2,000,000 shares from its original plan, is expected to generate roughly $630 million in gross proceeds before fees, with settlement set for October 20, 2026
• Strive will fund a dividend reserve of $22.50 per share at closing, enough to cover roughly 18 months of the stock’s cumulative dividend

Strive announced on October 15, 2026 that it had priced an upsized initial public offering of a new security called SATS Stock, officially the 15.00% Series A Perpetual SATS Preferred Stock, selling 7,000,000 shares at $90.00 apiece. The offering size grew by 2,000,000 shares from what the company originally planned, a sign that investor demand came in stronger than Strive’s initial pricing expectations. At that price and share count, the company expects estimated gross proceeds of approximately $630 million before underwriting fees and other offering expenses.

SATS Stock carries a stated amount of $100.00 per share, separate from its $90.00 issue price, with a cumulative annual dividend of 15.00 percent calculated on that $100.00 stated amount and a daily adjustment mechanism built into the structure. The first dividend payment is scheduled for November 9, 2026. To give investors added confidence the dividend will actually be paid on schedule, Strive says it will fund a dedicated reserve of $22.50 per share at the deal’s closing, an amount the company says is sufficient to cover approximately 18 months of dividend payments even before any new cash flow is applied toward them.

Strive, Inc. said proceeds from the offering are earmarked for general corporate purposes that explicitly include bitcoin and bitcoin-related products, alongside working capital, income-generating assets, capital expenditures, buybacks of the company’s Class A common stock or its separate SATA preferred stock, and possible acquisitions. The company’s release described bitcoin as its “hurdle rate for capital deployment,” language that signals bitcoin-denominated returns as the benchmark management uses to judge whether a given use of capital is worthwhile, though the release did not disclose Strive’s total bitcoin holdings following the offering.

The deal’s underwriting syndicate included Barclays and Cantor as joint book-running managers, Clear Street serving as lead manager, and B. Riley Securities, H.C. Wainwright and Co., Maxim Group and StoneX serving as co-managers, a roster spanning both large global banks and smaller specialty investment firms. Strive Asset Management, the company’s SEC-registered investment advisor subsidiary, manages more than $2.8 billion in assets, giving the broader Strive organization an existing institutional footprint beyond its bitcoin treasury activities.

This SATS offering is distinct from an earlier, separate Strive preferred offering called SATA, which closed back in January 2026 and raised approximately $118.8 million from 1,320,000 shares, proceeds that were used in part to retire debt related to the company’s earlier Semler Scientific merger. Strive also filed three related forms with the SEC on October 16, 2026, including the main disclosure and the underwriting agreement, confirming the transaction’s paper trail. The press release, distributed via GlobeNewswire, set October 20, 2026 as the expected settlement date for the new shares.