Strive Launches $1B At-The-Market Program for 15% SATS Preferred Stock
ASST has more than doubled off its 52-week low of $7.02.
Summary
Strive set up a $1 billion at-the-market program to sell its 15% SATS preferred stock through seven agents, layering more preferred issuance on top of the $630 million SATS IPO that closed October 20. No shares have been sold under the program yet.
Key Events · Financing and Capital Events · ASST
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New $1B SATS Preferred ATM Program
Strive entered a Controlled Equity Offering sales agreement dated October 26, 2026 with Cantor Fitzgerald, Barclays, Clear Street, StoneX, B. Riley, Maxim and H.C. Wainwright to sell up to $1,000,000,000 of 15.00% Series A Perpetual SATS Preferred Stock from time to time at market prices.
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15% Dividend on $100 Stated Amount
The SATS Stock carries a $100 per share stated amount and accumulates 15.00% annual cumulative dividends, payable in cash daily beginning November 9, 2026; the first declared dividend is $0.8710 per share.
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Agent Fees and Offering Costs
Agents earn up to 2.0% of gross proceeds, plus expense reimbursement of up to $125,000 at execution, $25,000 per quarter and $40,000 per refresh; total offering expenses excluding agent compensation are estimated at about $1 million.
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Share Count If Fully Sold
Assuming $1,000,000,000 of SATS Stock sold at $100.00 per share, SATS shares outstanding would rise from 7,000,000 to 17,000,000, alongside 14,030,176 SATA shares, 118,113,644 Class A and 9,214,702 Class B common shares.
Analysis · ASST · Crypto Assets
Strive is setting up a $1 billion drip-feed sale of its 15% Series A Perpetual SATS preferred stock through seven agents, layered on top of the $630 million SATS IPO that priced on October 16 and closed October 20. The preferred carries a $100 stated amount and pays 15% annually — roughly $150 million a year in cash dividends if the full $1B is sold — and the company says it expects to fund those dividends largely by raising more capital, including through at-the-market offerings like this one. Proceeds are earmarked for general corporate purposes, including more bitcoin purchases. This is a standing authorization, not a completed sale: no shares have been sold under the program yet, and the company may sell up to $1 billion from time to time at prevailing market prices. The SATS stock last traded at $94.88 on October 23, below its $100 liquidation preference, so sales at current levels would raise less per share than the stated amount.
How filings like this one have moved
In the 30 days to Oct 26, 2026, 36.2% of the 898 measured filings Wiseek scored 8 moved their stock by 5% or more by the next session's close. The median move was -0.75%. These are measured outcomes after filings of this importance, not a forecast for this one.
Measured one observation per ticker per day, after exclusions. Current figures: Filing Impact Tracker · open dataset
At the time of this filing, ASST was trading at $28.50 on NASDAQ in the Crypto Assets sector, with a market capitalization of approximately $3.6B. The 52-week trading range was $7.02 to $36.20. This filing was assessed with negative market sentiment and an importance score of 8 out of 10.