Strive raises $160 million in preferred stock offering to fund bitcoin acquisition

DALLAS - Strive, Inc. (NASDAQ:ASST) announced Monday it has closed its initial public offering of 2 million shares of Variable Rate Series A Perpetual Preferred Stock at $80 per share, raising $160 million. The company’s common stock is currently trading at $1.60, with a market capitalization of approximately $141 million, according to InvestingPro data.

The company reported that it currently holds 7,525 bitcoin, having acquired 1,567 bitcoin at an average price of $103,315. The preferred stock, trading under the ticker SATA, is designed to finance additional bitcoin purchases without diluting common shareholders. Despite the volatile nature of its bitcoin-focused strategy, reflected in its exceptionally high beta of 17.4, ASST shares have delivered a remarkable 226% year-to-date return.

According to the company, strong investor demand prompted Strive to increase the offering size from an initially planned 1.25 million shares to 2 million shares, despite bitcoin prices falling below $100,000 last week for the first time since June.

"The successful IPO of the SATA Stock makes Strive the first Bitcoin treasury company to finance its Bitcoin amplification exclusively through perpetual preferred equity," said Matt Cole, Chairman & CEO, in a statement.

The preferred shares will pay monthly dividends beginning December 15, with an initial variable rate set at 12% per annum on a stated amount of $100 per share. The company expects these dividends to be classified as return of capital (ROC) dividends.

Ben Werkman, Chief Investment Officer, stated that the company aims to maintain the trading price of the SATA stock between $95 and $105 per share through active management of the dividend and issuance rate. InvestingPro analysis shows the company maintains a healthy current ratio of 4.74, providing some financial flexibility despite reporting negative EBITDA of $7.64 million in the last twelve months.

Strive, which describes itself as "the first publicly traded asset management Bitcoin treasury company," went public in September 2025. Its asset management subsidiary, Strive Asset Management, LLC, reportedly manages over $2 billion in assets. The company has shown strong revenue growth of 111.73% in the last twelve months, though investors should note its upcoming earnings report scheduled for November 5, which could provide further insights into its financial health and bitcoin strategy.

The information in this article is based on a press release statement issued by the company and supplemented with financial data from InvestingPro.

In other recent news, Strive, Inc. reported the acquisition of approximately 1,567 bitcoins, bringing its total holdings to 7,525. The purchase was made at an average price of $103,315.46 per bitcoin, totaling $161,912,220, funded through proceeds from a stock offering and warrant exercises. Strive also announced the pricing of an upsized preferred stock offering, raising $160 million from 2 million shares of Variable Rate Series A Perpetual Preferred Stock, surpassing the initially planned 1.25 million shares. The company intends to use the proceeds for various purposes, including bitcoin acquisitions and other corporate needs.

Additionally, Strive’s board of directors and stockholders approved amendments to eliminate the maximum number of directors, effective December 31, 2025. This change removes the previous cap of 11 directors, allowing for greater flexibility in board composition. In another development, Strive filed a prospectus for the potential resale of up to 1.28 billion shares of Class A common stock by certain securityholders. The company stated it would not receive proceeds from these sales, which will be executed at the discretion of the selling securityholders.

This article was generated with the support of AI and reviewed by an editor. For more information see our T&C.