Overview
- Strive listed its Variable Rate Series A Perpetual Preferred Stock (SATA) on Nasdaq after upsizing the IPO to 2 million shares at $80, raising about $160 million.
- The company deployed proceeds to buy 1,567 BTC at an average price of $103,315, bringing total holdings to approximately 7,525 BTC.
- Management describes SATA as a “Bitcoin amplification” tool using perpetual preferred equity to grow Bitcoin-per-share without issuing additional common stock.
- SATA dividends are expected to be classified as Return of Capital under the company’s disclosures, and the instrument features a variable dividend structure.
- Founder Vivek Ramaswamy purchased 15,625 SATA shares per an SEC Form 4, and Strive’s WKSI status enables quicker future capital access, with reported data placing its BTC stash ahead of Galaxy Digital.