Strive Plans $500M Preferred Offering with 15% Dividend to Buy Bitcoin

Strive, Inc. (Nasdaq: ASST), the bitcoin-focused structured finance company, plans to raise $500 million through a new perpetual preferred stock carrying a fixed 15% annual dividend, with bitcoin purchases listed as a primary use of the proceeds. The company disclosed the plan in a press release on Oct. 13.

Subject to market conditions, the offering would sell 5 million shares of 15.00% Series A Perpetual SATS Preferred Stock at a stated amount of $100 per share. At 15%, the new security pays more than Strive’s existing variable-rate SATA preferred, currently set at 13%, and it ranks junior to SATA in the capital structure.

The Terms of the SATS Offering

Dividends accumulate at 15% per year on the $100 stated amount and are payable only when declared by Strive’s board, with regular payment dates beginning Nov. 9, 2026; the first scheduled payment would include dividends accrued from the closing date. Strive plans to set aside a reserve equal to 18 months of payments, $22.50 per share (about $112.5 million across the 5 million shares), funded with cash on hand and securities.

Proceeds are earmarked for general corporate purposes, including bitcoin and bitcoin-related products, working capital, income-generating assets, capital expenditures, repurchases of common stock or SATA, and potential acquisitions. Barclays and Cantor are joint book-running managers, with Clear Street as lead manager, under an effective SEC shelf registration.