Strive Prices Upsized $630M SATS Preferred Offering at $90/Share
ASST has more than doubled off its 52-week low of $7.02.
Summary
Strive priced an upsized $630 million IPO of 7 million 15% perpetual preferred shares at $90 each, with proceeds aimed at bitcoin purchases and general corporate purposes. The deal settles October 20, 2026.
Key Events · Financing and Capital Events · ASST
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Upsized SATS Preferred Offering Priced
Strive priced 7,000,000 shares of 15.00% Series A Perpetual SATS Preferred Stock at $90.00 per share, an upsize of 2,000,000 shares over the previously announced amount.
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Gross Proceeds of $630 Million
7,000,000 shares x $90.00 = approximately $630 million in gross proceeds before underwriting discounts and offering expenses; underwriters purchase at $87.00 per share.
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Settlement Scheduled October 20, 2026
Issuance and sale of the SATS Stock is scheduled to settle on October 20, 2026, subject to customary closing conditions.
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Dividend Reserve and 15% Rate
The SATS Stock accumulates cumulative dividends at 15.00% per annum on the $100 stated amount; Strive intends to fund a dividend reserve equal to $22.50 per share (18 months of dividends) at closing.
Analysis · ASST · Crypto Assets
Strive finalized the pricing of its 15.00% Series A Perpetual SATS Preferred offering, upsizing it from 5 million to 7 million shares at $90 each for approximately $630 million in gross proceeds. The 15% annual dividend is a high cost of capital, but the raise funds bitcoin purchases and general corporate purposes, and the upsized book signals institutional demand. Settlement is scheduled for October 20, 2026, subject to customary closing conditions. This is a preferred issuance, not common stock, so it does not immediately dilute common holders but ranks senior to common on dividends and liquidation.
How filings like this one have moved
In the 30 days to Oct 31, 2026, 39.9% of the 977 measured filings Wiseek scored 8 moved their stock by 5% or more by the next session's close. The median move was -0.59%. 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 $25.45 on NASDAQ in the Crypto Assets sector, with a market capitalization of approximately $2.6B. The 52-week trading range was $7.02 to $36.20. This filing was assessed with neutral market sentiment and an importance score of 8 out of 10.