Strive Inc. Announces IPO for Preferred Stock
Strive Inc. (Nasdaq: ASST) plans an initial public offering (IPO) of its Variable Rate Series A Perpetual Preferred Stock, ticker $SATA. The Dallas-based company said funds will support operations, Bitcoin purchases, income-generating assets, and possible debt repayment.
According to the filing, the preferred stock will offer a 12% annual dividend paid monthly. The rate may adjust based on market conditions. Strive will create a dividend reserve covering the first year of payouts to attract investors focused on yield. Barclays and Cantor Fitzgerald will lead the offering. Clear Street will act as co-manager.
Hybrid Model Combining Yield and Bitcoin Exposure
The SATA issuance shows Strive’s use of traditional finance to back its Bitcoin strategy. The company aims to buy more Bitcoin using the IPO proceeds, following a model similar to Strategy Inc.
As of October 27, Strive held about 5,957 BTC. This places the company among the top 20 public firms by Bitcoin treasury size, according to BitcoinTreasuries. Preferred shares are increasingly popular among Bitcoin holders to raise capital.
Bitcoin Growth Through Acquisitions
The IPO follows Strive’s recent all-stock merger with Semler Scientific, valued at over $90 per share. The combined firm now controls nearly 10,900 BTC. This includes Strive’s $675 million Bitcoin purchase, averaging $116,047 per coin.
The merger combines health tech cash flows from Semler with Strive’s Bitcoin investments. Strive uses dividend-bearing preferred stock for funding rather than debt. Its shares have declined to $1.25, down 52% from $2.50 last month, reflecting market caution.
Emerging Trend in Bitcoin Treasury Management
Strive’s shift reflects a trend among U.S. public companies toward Bitcoin-backed balance sheets. Firms like Strategy Inc. also use preferred shares to fund Bitcoin acquisitions. This hybrid model blends equity markets and crypto finance amid inflation concerns.
The SATA launch marks Strive’s evolution from an ETF issuer to a Bitcoin-focused holding company offering yield plus crypto exposure.
