Key Takeaways:
- Strive successfully closed an IPO of an upsized $630 million, in its perpetual preferred stock.
- SATS pays 1.5% compounded on a $100 stated value, payable on each business day.
- Strive received new funds from the offering which could go towards future Bitcoin investments; the specific amount of Bitcoin was not specified.
Strive has gone one step further in the public markets with its Nasdaq listing of SATS, a new perpetual preferred security on the basis of fixed income and corporate stakes in Bitcoin. The company sold a total of 7 million shares of SATS at $90 a share, grossing $630 million.
Strive’s SATS IPO Brings in $630 Million
Strive announced the closing of the upsized offering on October 20, with SATS expected to trade on the Nasdaq Global Market under the ticker SATS.
SATS is now listed on Nasdaq.
15.00% fixed annualized dividend rate based on $100 stated amount. Paid every business day.
First dividend: November 9, 2026, inclusive of dividends accrued since the October 20 closing.
$SATS $ASST $SATA https://t.co/uHFnzEW9LN
— Strive (@Strive) October 20, 2026
The preferred shares have a sum of $100 and carry a cumulative dividend at 15% per annum. This annual amount is $15 per share when dividends are declared and fully paid. This is the nominal annual dividend, which corresponds to about 16.7% of the price of the Offering.
Dividend payments will happen every day a business is in operation from November 9, 2026. If the payment is declared in full, it will cover dividends from October 20 when declared.
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Daily Dividends Add a Different Structure to Bitcoin Exposure
SATS is a perpetual product: that is, there is no traditional date of maturity. Strive is pitching the security as a cash flow tool in addition to another favored choice in the capital structure, SATA. For the company, SATS is an additional measure to boost its “Amplification Ratio”, which the firm believes is at the heart of its ability to benchmark better than Bitcoin over time, CEO Matt Cole said.
In addition, Chief Risk Officer Jeff Walton highlighted that Strive has no debt or impending debt due and has no other fixed financial obligations apart from dividends at this time.
Bitcoin Purchases Remain a Major Possibility
Strive has not locked up all of the offering into Bitcoin. The funds received can be applied to general corporate uses, such as Bitcoin purchases, cash flow of working capital, income-producing assets, expenditures on capital, acquisitions, repurchasing shares as disclosed in company notes to regulatory submissions.
With that being said, unknowns remain about who the last Bitcoinmaker will be. The offering, according to outside estimates, is expected to net around $608 million, excluding underwriting expenses and other costs. If all that was invested in Bitcoin, it represents the purchase of more than 7,300 BTC at a representative price of close to $82,500.
Strive has also stated it currently holds 36,818 BTC, which would result in its capital above 44,000 BTC if it fully allocated every BTC stored.
SATS Expands Strive’s Bitcoin-Focused Capital Stack
Since the listing, Strive has obtained a further capital raising mechanism, apart from by way of traditional debt. While Strive continues to go the Bitcoin route on its balance sheet, the main thrust of focus of SATS is predictable income.
The company described the preferred stock as part of a broader family of liquid financial securities aimed at investors seeking different combinations of income, price stability and Bitcoin-linked corporate exposure.
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The post Strive Raises $630M in SATS Nasdaq Debut With 15% Dividend Tied to Bitcoin Strategy appeared first on CryptoNinjas.
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