Strive plans to offer 1.25 million shares of variable rate preferred stock

DALLAS - Strive, Inc. (NASDAQ:ASST) announced Monday its intention to conduct an initial public offering of 1.25 million shares of its Variable Rate Series A Perpetual Preferred Stock, subject to market conditions. The announcement comes as the small-cap company, currently valued at approximately $141 million, has seen its stock price at $1.33, representing a remarkable 171% return year-to-date according to InvestingPro data.

The company plans to use proceeds from the offering for general corporate purposes, including bitcoin acquisitions, working capital, purchasing income-generating assets, share repurchases, and potential debt repayment. Strive may also fund acquisitions of complementary businesses, assets or technologies.

The preferred stock will carry an initial monthly dividend rate of 12% per annum on the stated amount of $100 per share, with dividends payable monthly beginning December 15, 2025. Strive will have the right to adjust the dividend rate for subsequent periods, subject to certain restrictions.

The company intends to establish a dividend reserve at the offering’s closing, depositing $12.00 per share into a separate account to fund the first 12 months of dividend payments.

Strive will have redemption rights under specific conditions, including the right to redeem all outstanding shares at a cash price of $110 per share plus accumulated unpaid dividends after the stock is listed on major exchanges.

Barclays and Cantor are serving as joint book-running managers for the offering, with Clear Street acting as co-manager.

Strive describes itself as "the first publicly traded asset management Bitcoin treasury company" and holds approximately 5,958 bitcoins as of October 27, 2025. Its subsidiary, Strive Asset Management, LLC, manages over $2 billion in assets. Despite showing strong revenue growth of 112% in the last twelve months, the company reported negative EBITDA of $7.64 million. Investors should note the company’s extremely high beta of 17.4, indicating significant volatility compared to the broader market. InvestingPro subscribers can access 12+ additional insights and key metrics ahead of Strive’s upcoming earnings report on November 5.

The offering is being made through an effective shelf registration statement filed with the SEC, according to the company’s press release statement.

In other recent news, Strive, Inc. reported preliminary financial data for the third quarter, revealing $108.6 million in cash and cash equivalents and holding 5,886 bitcoins. The company has also announced the filing of a prospectus for the potential resale of up to 1.28 billion shares of its Class A common stock, though Strive will not receive any proceeds from these sales. Additionally, Strive has removed the limit on the number of directors on its board following stockholder approval, effective December 31, 2025.

In a significant personnel move, Ben Werkman, known for his advocacy of Bitcoin, has been appointed as the Chief Investment Officer. Meanwhile, Strive disclosed that Semler Scientific secured a $20 million loan collateralized by Bitcoin, with a 10% interest rate and an initial margin requirement of 156.25%. The loan, arranged with Coinbase Credit Inc., is set to mature in March 2026. These developments highlight Strive’s active engagement in expanding its financial strategies and leadership team.

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