The company expects the dividends for SATA to be return of capital (ROC) dividends, enhancing its after-tax yield potential.
A new investor presentation highlighting details for both ASST and SATA can be accessed on Strive.com.
DALLAS, Nov. 10, 2025 (GLOBE NEWSWIRE) -- Strive, Inc. ("Strive" or the "Company") (NASDAQ:ASST, SATA)), announced today the closing of its initial public offering of 2,000,000 shares of Strive's Variable Rate Series A Perpetual Preferred Stock (the "SATA Stock"), at a public offering price of $80 per share. The SATA Stock is expected to begin trading on the Nasdaq Global Market on or around November 10, 2025, under the ticker symbol "SATA."
Despite a week in which Bitcoin dipped below $100,000 for the first time since June, investor demand for SATA remained strong, prompting the company to upsize its IPO to 2 million shares from the initially targeted 1.25 million shares. This preferred equity offering was designed to create a Bitcoin amplification toggle that will allow the Company to build on its current holdings of 7,525 Bitcoin with additional Bitcoin accumulation via non-dilutive financing with the goal of accreting value to ASST common equity shareholders. The Company may also use a portion of the proceeds for general corporate purposes, including, among other things, for working capital.
"The successful IPO of the SATA Stock makes Strive the first Bitcoin treasury company to finance its Bitcoin amplification exclusively through perpetual preferred equity, and the second overall, after Strategy, to issue a publicly traded perpetual preferred equity security," said Matt Cole, Chairman & CEO. "While Strive only went public in September, we've quickly shown the market both the speed and the precision our team operates with to drive long-term value to our shareholders, with Bitcoin as our hurdle rate."
The SATA Stock accumulates cumulative dividends at a variable rate (as described in the prospectus supplement) per annum on the stated amount of $100 per share (the "stated amount") thereof and an initial liquidation preference of $100 per share. Regular dividends on the SATA Stock will be payable when, as and if declared by Strive's board of directors or any duly authorized committee thereof, out of funds legally available for their payment, monthly in arrears on the 15th calendar day of each calendar month, beginning on December 15, 2025.
"At Strive, we are deliberate with every addition to our capital structure, and that discipline is reflected in the design of our initial Perpetual Preferred Equity," said Ben Werkman, Chief Investment Officer. "By introducing a variable-rate dividend security initially set at 12% and payable monthly when declared, we're providing investors with an attractive yield opportunity. When paired with our intention to actively manage the dividend and issuance rate with the goal of maintaining SATA Stock's trading price within its stated long-term range of $95 and $105 per share, we believe this structure represents a compelling value proposition."
"We are focused on applying advanced mathematic risk controls to our Bitcoin-based balance sheet, leaning on past experiences in traditional finance," said Jeff Walton, Chief Risk Officer. "We believe Bitcoin's maturation as a scarce, liquid, and transparent asset makes it an incredible foundation for a disciplined long duration risk conscious yield instrument. This structure aligns the principles of traditional finance and portfolio management with the future of digital capital."
Strive is a well-known seasoned issuer (WKSI) with an effective shelf registration statement on file with the Securities and Exchange Commission (the "SEC"), which provides the Company with the ability to raise capital via a wide range of financing options. After completing the largest ever equity-only financing for a Bitcoin Treasury Company (BTCTC) in September 2025, the SATA Stock is the next leg of Strive's capital structure strategy.
The offering was conducted pursuant to the Form S-3 registration statement, and was made only by means of a prospectus supplement and an accompanying prospectus. An electronic copy of the final prospectus supplement, together with the accompanying prospectus, is available on the SEC's website at www.sec.gov.
About Strive
Strive is the first publicly traded asset management Bitcoin treasury company. Strive is focused on increasing Bitcoin per share to outperform Bitcoin over the long run. Strive holds approximately 7,525 bitcoins as of November 10, 2025.Since launching its first ETF in August 2022, Strive Asset Management, LLC, a direct, wholly owned subsidiary of Strive and an SEC-registered investment adviser, has grown to manage over $2 billion in assets.
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