Strive (ASST) Stock Pops as $630M Offering May Fund More Bitcoin Purchases

TLDR

Table of Contents

Strive (ASST) stock rose 3.93% after it priced an upsized preferred stock offering.
The firm sold 7 million units of 15% SATS preferred stock at $90 per share, 2 million more than planned.
Gross proceeds are about $630 million, not the $700 million some headlines reported.
Money may go toward bitcoin, working capital, income-generating assets and buybacks.
SATS carries a 15% dividend, backed by a reserve of $22.50 per share.

Strive (ASST) stock climbed 3.93% after the bitcoin treasury firm priced an upsized preferred offering. The company sold 7 million units of its 15% Series A Perpetual Preferred Stock, called SATS, at $90 per share.

Strive, Inc., ASST

The pricing came on Oct. 15, 2026. It was 2 million units more than first announced.

Gross proceeds are about $630 million before fees. Some headlines said $700 million, but the math at $90 per share lands at $630 million.

Other Strive securities moved less. SATA preferred stock rose 0.18%, and bitcoin gained 0.87%.

What Strive Plans to Do With the Cash

Strive says net proceeds will go to general corporate purposes. Buying bitcoin and bitcoin-related products tops the list.

The firm already holds 35,595 BTC. More purchases would add to that pile.

Working capital, income-generating assets and capital spending are also named. Strive may buy back its Class A common stock too.

A buyback of its Variable Rate Series A Perpetual Preferred Stock is possible as well. The company also left room for acquisitions of businesses, assets or technologies.

Dividend and Offering Terms

SATS pays a cumulative 15% annual dividend. The rate applies to a stated amount of $100 per share, though buyers paid $90.

Payments need board approval and legally available funds. The first regular payment date is Nov. 9, 2026.

At closing, Strive plans to deposit $22.50 per share into a reserve account. That equals 18 months of dividend payments.

The liquidation preference starts at $100 per share. It will adjust daily under criteria in the governing documents.

Barclays and Cantor are joint book-running managers, and Clear Street is lead manager. B. Riley Securities, H.C. Wainwright & Co., Maxim Group and StoneX are co-managers.

The offering falls under an effective shelf registration with the SEC. Strive Asset Management, the firm’s subsidiary, manages over $2.8 billion in assets.

Settlement is scheduled for Oct. 20, 2026, subject to customary closing conditions.

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