WASHINGTON (dpa-AFX) - Strive, Inc. (ASST), Monday announced plans to launch an initial public offering of 1,250,000 shares of its Variable Rate Series A Perpetual Preferred Stock.
The money raised will go toward working capital, business expansion, possible debt repayment, and general corporate uses like buying bitcoin. The SATA Stock will have a 12 percent annual dividend rate at first, with monthly payments allowed under certain circumstances.
Clear Street will co-manage the offering, while Barclays and Cantor will serve as joint book-running managers.
ASST is currently trading at $1.33, up $0.0012 or 0.09 percent on the Nasdaq.
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