Strive Inc. priced its Series A Perpetual SATS Preferred Stock offering on October 15, 2026, after upsizing from an initial 5 million shares to 7 million shares at $90 each. The offering generated approximately $630 million in gross proceeds, with a notional stated value of around $700 million at the $100 par value. Settlement is expected on October 20, 2026, subject to customary closing conditions.
Offering Structure
The SATS preferred stock carries a fixed 15% cumulative annual dividend on its $100 stated amount, paid daily when declared. At the $90 IPO price, this translates to an effective yield of roughly 16.7%. Dividend payments are set to begin November 9, 2026.
Barclays and Cantor Fitzgerald served as joint book-running managers. The company earmarked proceeds for general corporate purposes, with Bitcoin acquisition and related products as primary targets.
This is Strive's second preferred equity offering. Its first, the SATA offering, closed in November 2025. Strive has maintained its balance sheet free of traditional debt obligations since May 2026.
Bitcoin Holdings
As of mid-October 2026, Strive holds approximately 35,595 BTC. This represents significant growth from the end of 2025, when holdings ranged between 7,500 and 7,600 BTC. Since the company has no debt, all Bitcoin holdings are unpledged and not subject to margin calls or forced liquidation.
Strive has structured its dividend reserves to cover up to 18 months of payouts.
Market Implications
The 40% upsizing of the deal from 5 million to 7 million shares suggests strong investor demand and oversubscription of the book. Strive trades on Nasdaq under the ticker ASST and is positioned as one of the more significant Bitcoin accumulators in the public markets.
