--- title: "Strive Files to Offer 5 Million Shares of 15% SATS Preferred Stock to Buy Bitcoin" description: "The asset manager plans to issue perpetual preferred stock paying daily dividends to fund corporate operations and bitcoin purchases." url: https://basisdesk.news/news/strive-files-sats-preferred-stock-offering-bitcoin published: 2026-10-16T10:41:29.725Z modified: 2026-10-16T10:41:29.725Z section: Institutions & ETFs author: Basis Desk Newsroom (AI-generated, source-verified) sentiment: bullish tickers: [BTC] tags: [Strive, bitcoin, treasury, preferred-stock, capital-markets] license: Quote with attribution to Basis Desk (basisdesk.news). Not financial advice. --- # Strive Files to Offer 5 Million Shares of 15% SATS Preferred Stock to Buy Bitcoin The asset manager plans to issue perpetual preferred stock paying daily dividends to fund corporate operations and bitcoin purchases. ## At a glance - **What happened:** Strive, Inc. announced a public offering of 5,000,000 shares of 15.00% Series A Perpetual SATS Preferred Stock to buy bitcoin and fund corporate operations. - **Why it matters:** The structure establishes an institutional equity pipeline that funnels capital market proceeds directly into corporate treasury bitcoin allocations. - **Who is affected:** Strive stockholders, institutional preferred-equity investors, and public capital markets. - **Takes effect:** 2026-11-09 - **What's next:** Nasdaq listing review for the SATS ticker and the scheduled start of regular daily dividend distributions on Nov. 9, 2026. - **Status:** announced - **Primary source:** [Strive Eyes About $630 Million in Upsized Sale of a New Fixed-Rate Preferred Stock](https://www.sec.gov/Archives/edgar/data/1920406/000162828026065737/strive-preferredlaunchpres.htm) — sec.gov ## Key points - Strive announced an offering of 5,000,000 shares of 15.00% Series A Perpetual SATS Preferred Stock with a $100 stated amount. - Proceeds will support general corporate purposes, including buying bitcoin, funding working capital, and repurchasing equity. - Dividends will accrue at 15.00% annually and are payable each business day starting Nov. 9, 2026, backed by an 18-month reserve. ## Editorial remark - **Context:** Strive has integrated bitcoin into its treasury strategy as a capital hurdle rate, leveraging public capital markets to accumulate digital assets alongside corporate expansion. - **Impact:** If completed, the offering provides Strive with capital to expand its treasury holdings and repurchasing capacity, while testing public investor appetite for high-yield, crypto-linked perpetual equity. - **Watch:** Nasdaq listing approval under the symbol SATS and the planned initiation of daily dividend payments on Nov. 9, 2026. 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 [1][2]. 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 [1][2]. 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 [1][2]. ## 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 [1][2]. 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 [1][2]. 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 [1][2]. Additionally, holders can require the company to repurchase shares at the $100 stated amount plus accrued dividends if a fundamental corporate change occurs [1][2]. ## Sources 1. [Strive Eyes About $630 Million in Upsized Sale of a New Fixed-Rate Preferred Stock](https://www.sec.gov/Archives/edgar/data/1920406/000162828026065737/strive-preferredlaunchpres.htm) — sec.gov, 2026-10-16 2. [Strive Eyes About $630 Million in Upsized Sale of a New Fixed-Rate Preferred Stock](https://www.sec.gov/Archives/edgar/data/1920406/000095010326015525/dp254910_424b5.htm) — sec.gov, 2026-10-16 --- Basis Desk Newsroom · AI-generated, source-verified · https://basisdesk.news/about/how-we-use-ai