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Strive Inc. (ASST) announced the pricing of its initial public offering of 2 million shares of Variable Rate Series A Perpetual Preferred Stock at $80 per share on November 5, 2025. The offering represents an increase of 750,000 shares from the previously announced amount.
The company expects gross proceeds of approximately $160 million before deducting underwriting discounts and estimated expenses. The offering is scheduled to settle on November 10, 2025, subject to customary closing conditions.
Strive plans to use net proceeds for general corporate purposes, including bitcoin and bitcoin-related product acquisitions, working capital, income-generating asset purchases, capital expenditures, share repurchases, and debt repayment. The company may also fund acquisitions of complementary businesses, assets, or technologies.
The SATA Stock will pay cumulative dividends at a variable rate on a $100 stated amount per share. Monthly dividends will begin December 15, 2025, starting at an initial annual rate of 12%. Strive retains discretion to adjust the dividend rate subject to certain restrictions, with the stated intention of maintaining the stock’s trading price between $95 and $105 per share.
The company will establish a dividend reserve equal to 12 months of dividend payments at the 12% rate by depositing $12 per share into a separate account using existing cash.
Strive holds redemption rights after the stock lists on major exchanges at $110 per share plus accumulated dividends. Shareholders have repurchase rights at the stated amount plus dividends if certain fundamental changes occur.
Barclays and Cantor serve as joint book-running managers, with Clear Street as co-manager. The offering proceeds through an effective shelf registration statement filed with the Securities and Exchange Commission.