- Strive launches a $500 million preferred stock offering to fund Bitcoin purchases and corporate needs.
- The company holds 7,525 BTC worth nearly $696 million and aims to increase Bitcoin per share.
- Strive’s stock shows short term gains with SATA at $91.15 and ASST up 3.57% on Tuesday.
Strive, a Nasdaq-listed structured finance company with a Bitcoin treasury, announced a $500 million at-the-market offering. The offering involves its Variable Rate Series A Perpetual Preferred Stock (SATA).
Strive has entered agreements with Cantor Fitzgerald, Barclays, and Clear Street to sell the shares directly to the market. The ATM structure allows flexibility to sell at prevailing market prices over time. This approach avoids issuing a large block of shares at a fixed price.
The dividend for SATA is set at 12% per year. Regular dividends will begin on November 10, 2025. Strive retains the right to adjust the dividend rate in the future. The company stated the offering will support general corporate purposes, including acquiring additional Bitcoin. The announcement follows Strive’s upsized SATA IPO, which closed on November 10 at $80 per share. The IPO initially targeted 1.25 million shares but was increased to 2 million. The stock trades on the Nasdaq Global Market.
Bitcoin Holdings and Acquisition Plans
Strive reported holding 7,525 BTC as of November 7, valued at approximately $696 million. The company ranks 14th among public Bitcoin holders. Proceeds from the preferred stock offering will be used for Bitcoin purchases, income-generating assets, and working capital.
Strive previously announced plans to acquire Bitcoin through a merger and the Mt. Gox bankruptcy claims. The company aims to increase BTC-per-share as part of a long-term strategy. Its approach resembles strategies used by other Bitcoin-focused public firms. Strive recently obtained over 10,000 Bitcoin after merging with Semler in an all-stock deal.
Stock Performance Trends
SATA shares increased 0.088% on Tuesday, closing at $91.15. Strive’s Class A common stock (ASST) rose 3.57% to $1.02. Over the past 52 weeks, ASST traded between $0.34 and $13.42.
Recent trends suggest potential market opportunities for buyers. Short-term swings in the stock have followed a pattern of gains and corrections. Strive’s trading activity indicates investor interest in both common and preferred shares.
Market and Regulatory Engagement
Strive also engaged with index provider MSCI, opposing exclusion of digital asset treasury companies from global indexes. The company argued that excluding these firms could limit passive investor access to growth markets.
Strive continues to expand its presence in the structured finance and digital asset sectors. Its ongoing strategies combine corporate finance activities with Bitcoin accumulation and potential business acquisitions.
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