Strive Announces Nasdaq Listing of SATA and Closing of Oversubscribed & Upsized IPO

Core Insights - Strive, Inc. successfully closed its initial public offering of 2,000,000 shares of Variable Rate Series A Perpetual Preferred Stock (SATA Stock) at a price of $80 per share, with trading expected to begin on Nasdaq under the ticker symbol "SATA" [1][2] - The IPO was upsized from an initial target of 1.25 million shares due to strong investor demand, despite Bitcoin's recent dip below $100,000 [1][2] - The proceeds from the offering will be used for Bitcoin accumulation and general corporate purposes, including working capital [1][6] Company Overview - Strive is the first Bitcoin treasury company to finance its Bitcoin amplification exclusively through perpetual preferred equity, and the second overall to issue a publicly traded perpetual preferred equity security [2] - The company holds approximately 7,525 Bitcoin as of November 10, 2025, having acquired 1,567 Bitcoin at an average price of $103,315 [6][7] - Strive has grown to manage over $2 billion in assets since launching its first ETF in August 2022 [7] Financial Structure - The SATA Stock features cumulative dividends at a variable rate, initially set at 12%, payable monthly when declared [2][3] - The initial liquidation preference for the SATA Stock is $100 per share, with regular dividends payable on the 15th of each month starting December 15, 2025 [2][3] - The company aims to maintain the trading price of SATA Stock within a long-term range of $95 to $105 per share [3] Strategic Focus - Strive emphasizes a disciplined approach to its capital structure, applying advanced risk controls to its Bitcoin-based balance sheet [3] - The company intends to align traditional finance principles with the future of digital capital through its innovative financial instruments [3]