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Strive Announces Pricing of Upsized Initial Public Offering of SATS Stock

ASSTSATA
  • Strive, Inc. priced its initial public offering of 7,000,000 shares of 15.00% Series A Perpetual SATS Preferred Stock at $90 per share on October 15, 2026.
  • The offering size was upsized by 2,000,000 shares from the previously announced amount, with settlement scheduled for October 20, 2026.
  • Gross proceeds are estimated at approximately $630 million before deducting underwriting discounts, commissions, & offering expenses.
  • Net proceeds will be used for general corporate purposes, including acquiring bitcoin & bitcoin-related products, purchasing income-generating assets, capital expenditures, & repurchasing Class A Common Stock or Variable Rate Series A Perpetual Preferred Stock.
  • The SATS Stock carries a stated amount of $100 per share & accumulates cumulative dividends at an annual rate of 15.00%.
  • Regular dividends are payable daily beginning November 9, 2026, contingent on declaration by the board of directors & availability of legal funds.
  • Strive intends to deposit $22.50 per share into a dividend reserve account at closing to cover the first 18 months of dividend payments.
  • The company retains the right to redeem all SATS Stock if outstanding shares fall below 25% of the total originally issued or in specific tax event scenarios.
  • Holders may require Strive to repurchase shares at the stated amount plus accrued dividends if a fundamental change occurs.
  • The liquidation preference starts at $100 per share but is adjusted daily based on the highest of the stated amount, the prior day's last sale price, or the 10-day average sale price.
  • Barclays & Cantor serve as joint book-running managers, Clear Street is the lead manager, & B. Riley Securities, H.C. Wainwright & Co., Maxim Group LLC, & StoneX act as co-managers.
  • The offering is conducted pursuant to an effective shelf registration statement filed with the SEC.