Strive Prices $160 Million Upsized IPO to Expand Bitcoin Treasury Strategy

Quick Breakdown 

• Strive raises $160 million from its upsized SATA Stock offering to fund Bitcoin purchases and corporate growth.
• The preferred stock offers a 12% variable annual dividend, payable monthly.
• Strive aims to maintain SATA’s trading price within the $95–$105 range.

Strive, Inc. has priced its upsized offering of 2 million shares of its Variable Rate Series A Perpetual Preferred Stock (SATA Stock) at $80 per share, raising approximately $160 million before expenses. The Dallas-based firm, listed on the Nasdaq under the ticker ASST, increased the offering by 750,000 shares in response to strong investor demand. Settlement is scheduled for November 10, 2025, subject to customary conditions.

Strive announces an $80 offering price for its Perpetual Preferred Stock ($SATA) and upsizes the deal from 1.25 million shares to 2 million shares. $ASST pic.twitter.com/v9ul9F0Ebk

— Strive (@strive) November 5, 2025

Funds to fuel bitcoin and asset acquisitions

According to Strive, proceeds from the offering will be directed toward expanding its Bitcoin holdings and acquiring Bitcoin-related products. The company also plans to deploy funds for working capital, income-generating assets, share repurchases, and potential acquisitions aligned with its long-term Bitcoin treasury strategy. Strive currently holds 5,957.9 BTC as of October 27, 2025, positioning itself as the first publicly traded asset management firm built around Bitcoin reserves.

The SATA Stock will pay a variable dividend rate starting at 12% annually, with flexibility for adjustment based on market conditions and shareholder protections. Strive intends to establish a dividend reserve equal to the first 12 months of payments and may redeem shares at a minimum price of $110 per share once the shares are listed on major exchanges, such as Nasdaq or NYSE. Barclays and Cantor Fitzgerald are serving as joint book-running managers for the offering, with Clear Street acting as co-manager.

Strengthening position as a public bitcoin treasury company

Founded in 2022, Strive Asset Management, a wholly owned subsidiary, manages over $2 billion in assets and aims to outperform Bitcoin by increasing Bitcoin per share over time. The latest capital raise underscores Strive’s ambition to expand its Bitcoin-based investment model and integrate digital asset exposure into traditional financial markets through regulated, yield-bearing instruments, such as SATA Stock.

In related industry news, the Global Legal Entity Identifier Foundation (GLEIF) has named the London Stock Exchange Group (LSEG) as the winner of its Global vLEI Hackathon in the Digital Asset and Financial Infrastructure category. The recognition highlights how verifiable digital identities  or vLEIs can enhance transparency, compliance, and security across blockchain-based financial systems.

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