Core Viewpoint - Strive is issuing its own variable rate preferred stocks to fund various strategic initiatives, including bitcoin purchases and debt repayment [1][2][3] Group 1: Stock Issuance Details - The company plans to sell 1.25 million shares of Variable Rate Series A Perpetual Preferred Stock, known as "SATA," in an initial public offering, subject to market conditions [1] - The preferred shares have a stated value of $100 and an initial annual dividend of 12%, which will be paid monthly starting December 15 [2] - The dividend rate may be adjusted monthly, linked to the one-month SOFR benchmark [2] Group 2: Dividend and Redemption Terms - Unpaid dividends will compound monthly, with a maximum annual rate of 20% [3] - Strive will reserve funds to cover the first year of dividend payments [3] - The company may redeem the shares at $110 each plus accrued dividends once listed on Nasdaq or NYSE [3] Group 3: Company Financials and Market Reaction - As of October 27, Strive holds 5,958 bitcoins and manages over $2 billion in assets through Strive Asset Management LLC [3] - Following the announcement, Strive's stock (ASST) rose by 9% on Monday morning [3]