Strive Files $500 Million SATS Preferred Offering at 15% to Buy More Bitcoin

Published October 14, 2026, 03:30 UTC. Based on Strive's October 13, 2026 press release distributed via GlobeNewswire, the company's preliminary prospectus dated October 13, 2026, and reporting by CoinDesk and TipRanks on October 13, 2026.

Strive plans to sell 5 million shares of a new 15.00% Series A Perpetual SATS Preferred Stock at a $100 stated amount per share, targeting about $500 million, the company announced in a press release issued at 4:35 p.m. EDT on October 13, after the market close. The Nasdaq-listed bitcoin treasury company said it intends to use the net proceeds for general corporate purposes, including buying bitcoin and bitcoin-related products, working capital, income-generating assets and repurchases of its Class A common stock or its existing SATA preferred stock.

The $500 million SATS plan

The offering is registered under the Securities Act of 1933 and will be conducted off an effective shelf registration, with the underwriting syndicate led by Barclays and Cantor, according to TipRanks' reporting on the announcement. The company will accumulate cumulative dividends on the SATS stock at 15.00% per annum on the $100 stated amount, payable when, as and if declared by the board of directors, in arrears on each business day starting November 9, 2026. The first scheduled dividend, if declared in full, will include all dividends accrued from the closing date.

15% fixed, junior to SATA

SATS sits below Strive's existing Variable Rate Series A Perpetual Preferred Stock, SATA, in both dividend priority and liquidation rights, the company said. SATA pays a variable dividend currently running around 13%, while SATS offers investors a fixed 15% yield, a predictable income stream instead of SATA's floating structure. Both classes pay dividends daily. Strive's common shares closed at $27.59 and SATA at $98.79 on October 13, with both closes coming before the announcement, according to Mugglehead's reporting.

The 18-month dividend reserve

At closing, Strive plans to establish a dividend reserve equal to the first 18 months of payments on SATS, pre-funding the income stream before a single share settles. The reserve is designed to reassure preferred investors that the 15% coupon is covered well into 2028. However, the preliminary prospectus dated October 13 leaves the public offering price, the underwriting discounts and the closing date blank, so the final amount raised and the timing remain undetermined, according to Mugglehead's review of the filing.

3,311 bitcoin last week, 32,773 in the vault

The raise comes days after Strive disclosed it bought 3,311 bitcoin between October 5 and October 9, lifting its treasury to 32,773 BTC, worth about $2.7 billion at current prices. Three months ago the company held fewer than 20,000 coins, and unlike most bitcoin treasury companies it has kept increasing its stack through the recent market weakness, according to CoinDesk's reporting. Strive has said it may also use the SATS proceeds to fund acquisitions of businesses, assets or technologies that complement its current business.

Another 8-K before the bell

CEO Matt Cole has said the company expects to release another Form 8-K before the market opens on October 14 with the final tally of warrant exercises and additional bitcoin purchases, according to analyst Tim Kotzman's writeup of the announcement. The warrant deadline expired at 5 p.m. ET on October 13, with $208 million already exercised, so the morning filing should show how much of the remaining roughly 15.3 million warrant-backed shares converted.

This article is news reporting and is not investment advice.

Sources

• Strive, Inc., press release via GlobeNewswire (October 13, 2026), primary source for the 5 million SATS share plan, the $100 stated amount, the 15.00% dividend rate, the November 9, 2026 first dividend date, the 18-month dividend reserve and the planned uses of proceeds
• Strive, preliminary prospectus dated October 13, 2026, primary source for the SATA minimum sale price and the offering terms left blank (offering price, discounts, closing date)
• TipRanks, "Strive Inc Plans Series A Preferred Stock Offering" (October 13, 2026), secondary source for the Barclays and Cantor-led underwriting syndicate, the effective shelf registration and the daily dividend schedule
• CoinDesk, "Bitcoin (BTC) treasury news: Strive (ASST) aims to raise $500 million with SATS preferred offering" (October 13, 2026), secondary source for the 5 million shares at $100 structure, the SATA junior ranking and the 32,773 BTC treasury context
• Tim Kotzman, Substack, "Strive's $500 Million SATS IPO: 15% Dividends, Bitcoin Accumulation, and the Next Evolution of Digital Credit" (October 13, 2026), secondary source for the expected October 14 8-K on final warrant exercises and bitcoin purchases