Overview
- Strive announced on Tuesday, October 20, 2026 that it closed an upsized IPO of 7 million shares of Series A perpetual preferred stock (SATS) at $90 per share, generating roughly $630 million in gross proceeds and beginning Nasdaq trading under the ticker SATS.
- The SATS security carries a 15.00% annual cumulative dividend calculated on a $100 stated value and scheduled to be payable on every business day starting November 9, 2026 if declared by Strive’s board.
- Company filings show Strive bought 4,045 BTC in the week of October 12–16 and now holds 36,818 BTC, making it the fourth‑largest public corporate Bitcoin holder by coin count.
- Strive has raised material cash from recent warrant exercises and the SATS offering, but the company did not explicitly confirm how much of the targeted 18‑month dividend reserve (about $157.5 million at the final size) was funded at closing.
- The move deepens Strive’s preferred‑equity funding strategy by layering a fixed‑coupon senior claim below common stock, which supplies cash for Bitcoin buys while increasing recurring dividend obligations and the potential for common‑share dilution.