Strive Files to Offer 5 Million Shares of 15% SATS Preferred Stock to Buy Bitcoin

Strive, Inc. announced plans on Oct. 13, 2026, to conduct a public offering of 5,000,000 shares of its 15.00% Series A Perpetual SATS Preferred Stock ¹. The offering is registered under the Securities Act of 1933 and covers shares with a stated amount of $100 per share and a par value of $0.001 per share ¹². Net proceeds will be directed toward general corporate operations, which include purchasing $BTC and bitcoin-related products, buying income-generating assets, funding working capital, and repurchasing shares of common stock or existing variable-rate preferred shares ¹.

Under the terms outlined in the preliminary prospectus supplement, the SATS Stock accumulates cumulative dividends at a 15.00% annual rate on the $100 stated amount ¹². Regular dividend distributions are scheduled to occur on each business day starting on Nov. 9, 2026, if declared by the board of directors ¹. To support the distributions, Strive plans to establish a dividend reserve at the offering's closing, depositing $22.50 per share into a dedicated account using cash and securities to cover the initial 18 months of payments ¹².

Underwriting and Redemption Terms

Strive has applied to list the new securities on the Nasdaq Global Market under the ticker symbol SATS, with secondary market trading expected to begin within 30 days of the initial issuance if approved ². The company also noted plans to pursue an at-the-market offering of the preferred shares following any listing ². Barclays and Cantor Fitzgerald & Co. are serving as joint book-running managers, Clear Street is lead manager, and co-managers include B. Riley Securities, H.C. Wainwright & Co., Maxim Group LLC, and StoneX ¹².

The structure grants Strive redemption rights to repurchase all outstanding SATS Stock for cash if the circulating float falls below 25% of the total issued amount or upon specific tax events ¹². The redemption price equals the liquidation preference—which begins at $100 per share and adjusts daily based on recent market transaction prices—plus accrued unpaid dividends ¹². Additionally, holders can require the company to repurchase shares at the $100 stated amount plus accrued dividends if a fundamental corporate change occurs ¹².