Strive's preferred stock, SATS, is now trading on the Nasdaq, the company announced. The stock debuted Tuesday and will pay a 15% dividend every business day.
Nasdaq-listed Strive said it closed its upsized initial public offering of 7,000,000 shares of SATS at a public offering price of $90 per share, raising $630 million to buy more Bitcoin and income-generating assets.
"The successful, upsized IPO of SATS marks a critical milestone in our strategy to maximize long-term total returns for our common equity investors," Matt Cole, Chairman and CEO of Strive, said in a statement.
The company also has another preferred stock, SATA, which pays a variable dividend. The launch comes as public companies work to financialize bitcoin through different products. Bitcoin treasury Strategy, which has five preferred stocks, proposed daily dividends for its products last month.
Strive debuted as an official bitcoin treasury last year and is now the fourth biggest company in the space. Founded by former Ohio gubernatorial candidate and tech entrepreneur Vivek Ramaswamy, the company holds 36,818 BTC worth over $3 billion at today's prices. On Monday, Strive announced another bitcoin purchase of 4,045 BTC between October 12 and 16.
In January 2026, Strive completed the acquisition of Semler Scientific in an all-stock deal — the first instance of a publicly traded Bitcoin treasury company acquiring another such company.
Like other digital asset treasuries, the model aims to give investors amplified returns from Strive's stock. The company buys bitcoin with equity and maintains a debt-free balance sheet: no bonds, no credit lines, and no leveraged positions that could trigger forced liquidation in a downturn.
Strive is following in the footsteps of software company Strategy, which started buying bitcoin in 2020. Strategy is now the largest corporate holder of bitcoin, with 848,517 coins worth over $60 billion. Its five preferred stocks are STRF, STRC, STRK, STRD, and STRE.
Strive's common stock, ASST, was trading 4% higher on Tuesday.
