WASHINGTON (dpa-AFX) - Strive, Inc. (ASST), an investment management company, on Thursday announced that it had priced an upsized initial public offering of 7 million shares of its 15% Series A Perpetual SATS Preferred Stock at $90 per share.
The issuance and sale of the shares are scheduled to settle on October 20.
The company said the offering was increased by 2 million shares from the previously announced amount.
The offering is expected to generate gross proceeds of approximately $630 million.
The company intends to use the net proceeds for general corporate purposes, including purchasing bitcoin and bitcoin-related products.
The proceeds may also be used to acquire income-generating assets, fund working capital and capital expenditures, and repurchase shares.
The company may also use the proceeds to acquire businesses, assets or technologies that complement its existing business.
The preferred stock will accrue cumulative dividends at an annual rate of 15% based on a stated amount of $100 per share. Regular dividends will be payable when declared by the company's board of directors.
The company also plans to establish a dividend reserve equivalent to the first 18 months of dividend payments, amounting to $22.50 per share.
Copyright(c) 2026 RTTNews.com. All Rights Reserved
Copyright RTT News/dpa-AFX
© 2026 AFX News
