Strive launches $1 billion at-the-market program for SATS preferred stock

Strive, Inc. has entered into a sales agreement to issue and sell up to $1.0 billion of its 15.00% Series A Perpetual SATS Preferred Stock through an at-the-market program. The company, which trades on Nasdaq under the tickers ASST, SATA, and SATS, announced the deal on October 26, 2026.

Strive intends to deploy the net proceeds from the program for general corporate purposes. These uses include the acquisition of bitcoin and bitcoin-related products, working capital, and the purchase of income-generating assets. The company also plans to use the funds for capital expenditures and potential repurchases of its Class A common stock or Variable Rate Series A Perpetual Preferred Stock. Additional uses may include funding acquisitions of complementary businesses, paying cash dividends on preferred stock, and repaying future indebtedness.

The sales will be conducted by sales agents using methods deemed an at-the-market offering under Rule 415(a)(4) of the Securities Act of 1933. The offering is pursuant to a prospectus supplement filed with the Securities and Exchange Commission on October 26, 2026. This filing relies on an existing automatic shelf registration statement that became effective on September 15, 2025.

Strive describes itself as a structured finance company focused on disciplined capital allocation. The firm states it has adopted bitcoin as its hurdle rate for capital deployment to maximize long-term value for stockholders. Strive Asset Management, LLC, a wholly owned subsidiary and SEC-registered investment adviser, manages over $2.8 billion in assets.

The company noted that forward-looking statements regarding the strategic benefits of its merger transaction with Semler Scientific, Inc., involve inherent risks. These risks include the possibility that anticipated benefits are not realized due to changes in bitcoin treasury strategies, digital asset risks, or general economic conditions. Other factors may include diversion of management attention, dilution from new share issuance, and potential adverse reactions from clients or employees. Strive cautions that actual results may differ materially from projected future results expressed in these statements.