Nasdaq-listed Strive, which trades under the ticker ASST, said it plans an initial public offering of 5 million Series A perpetual preferred shares called SATS. The company said the deal remains subject to market and other conditions.
According to the announcement, the SATS shares would carry a 15% annual dividend based on a stated value of $100 per share. Strive also said it intends to set aside funds at closing to cover the first 18 months of dividend payments.
Planned size and dividend structure
Strive said the proposed offering covers 5 million SATS preferred shares. Each share would have a stated value of $100, and the annual dividend rate would be 15% of that amount.
The company said regular dividend payment dates would fall on business days, with the first scheduled for November 9, 2026. Those payments would still be subject to declaration by Strive’s board of directors or an authorized committee, according to the offering terms.
How the proceeds may be used
The company said net proceeds from the sale may be used for general corporate purposes. It listed several possible uses, including the purchase of bitcoin and related products, additional working capital, income-generating assets, and capital expenditures.
Strive also said the funds could be used to repurchase its Class A common stock or its Series A floating-rate preferred stock, SATA. The company added that it is considering potential acquisitions of businesses, assets, or technologies that would complement its existing operations.
Dividend reserve and redemption provisions
At the closing of the offering, Strive said it plans to create a reserve for the first 18 months of dividend payments. The company intends to deposit $22.50 for each SATS share into an account funded with its cash and securities.
The offering documents also outline redemption rights. Strive said it may redeem all outstanding SATS shares at its discretion if the number remaining falls below 25% of the aggregate amount originally issued in this and future offerings, and it may also do so following certain tax events.
Holders would have their own redemption right if a fundamental change occurs, as defined in the offering materials. In that case, the redemption price would be the $100 stated value per share plus any accrued and unpaid dividends, if any.
What remains to be confirmed
Strive has not presented the transaction as final. The company said the proposed offering is subject to market conditions and other factors, meaning the size, timing, or completion of the deal could still change.
If the offering closes as outlined, the next confirmed milestone in the terms disclosed so far would be the establishment of the dividend reserve at closing and, later, the first regular dividend payment date on November 9, 2026, subject to board approval.
Source: incrypted.com