Strive is turning heads in the crypto world again. On Tuesday, the Nasdaq-listed structured finance company announced a $500 million at-the-market offering of its Variable Rate Series A Perpetual Preferred Stock, or SATA, aimed at funding additional Bitcoin acquisitions.
The move comes as part of Strive’s ongoing strategy to grow its digital asset holdings while supporting general corporate purposes.
The company struck a sales agreement with Cantor Fitzgerald, Barclays, and Clear Street to offer up to $500 million in SATA shares. Unlike a traditional stock sale, the at-the-market structure gives Strive flexibility to sell shares directly to the market at prevailing prices over time, rather than locking in a single price for the full offering.
SATA carries a 12 percent annual dividend, with the regular dividend period starting November 10. Strive retains the option to adjust this rate in future periods depending on market conditions, a signal to investors that the company is staying nimble in a volatile crypto environment.
This offering builds on the momentum from Strive’s SATA initial public offering, which closed November 10 at $80 per share after upsizing to 2 million shares from an initial target of 1.25 million. SATA now trades on the Nasdaq Global Market under the ticker SATA, giving investors a new way to access Strive’s Bitcoin-focused strategy.
Co-founded by entrepreneur and politician Vivek Ramaswamy, Strive markets itself as the first publicly traded asset management company with a Bitcoin treasury. According to company disclosures, Strive held 7,525 Bitcoin as of November 7.
The company’s long-term goal is clear: increase BTC-per-share to a point where Strive stock could outperform Bitcoin itself. This latest capital raise is designed to fuel that strategy by supporting continued Bitcoin accumulation.
On Tuesday, SATA edged up 0.088 percent, closing at $91.15, while Strive’s Class A common stock ASST rose 3.57 percent to $1.02. The gains underscore investor confidence in Strive’s growing digital asset treasury and its bold play in the Bitcoin market.
