Strive Announces Nasdaq Listing of SATS and Closing of Upsized Initial Public Offering
Strive, Inc. (Nasdaq: ASST) closed an upsized IPO of 7,000,000 shares of its 15.00% Series A Perpetual SATS Preferred Stock at $90 per share, implying roughly $630 million in gross proceeds. The SATS Stock begins trading on the Nasdaq Global Market around October 20, 2026 under the ticker 'SATS', accumulating cumulative dividends at 15.00% per annum on a $100 stated amount. Management framed the raise as junior capital that strengthens the credit profile of its existing SATA security while supporting the company's bitcoin-hurdle-rate capital allocation strategy.
Key figures
- Deal Value Usd
- $630 million implied gross (7,000,000 shares at $90)
- Offering Price
- 90
- Shares Offered
- 7000000
- Aum
- $2.8 billion
- New ticker
- SATS
- Dividend rate
- 15.00% per annum
- Security type
- 15.00% Series A Perpetual SATS Preferred Stock
- Stated amount
- $100 per share
AI analysis
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