Strive Plans to Conduct Initial Public Offering of SATS Shares

Strive (ASST) announced its intention to conduct an initial offering of 5 million perpetual preferred shares of SATS Series A with annual dividends of 15% of the stated value of $100 per share. The offering will depend on market and other conditions. Strive intends to use the net proceeds from the offering for general corporate purposes, including the purchase of bitcoin and related products, replenishment of working capital, acquisition of income-generating assets, and funding capital expenditures. During the offering, the company plans to create a reserve for dividend payments for the first 18 months by depositing the equivalent of $22.50 per SATS share into a special account, which will be funded by Strive's existing cash and securities.

Strive may redeem all issued SATS shares if their total number is less than 25% of the aggregate number of shares issued under this and future offerings. SATS holders may demand redemption of part or all of their shares in the event of a significant change, with the redemption price being the stated value of the shares – $100, plus accrued and unpaid dividends, if any. Regular dividend payment dates will fall on business days starting from November 9, 2026, subject to declaration by Strive's board of directors or an authorized committee.

Barclays and Cantor are acting as joint book-running managers, while Clear Street is the lead placement manager, and B. Riley Securities, H.C. Wainwright & Co., Maxim Group LLC, and StoneX – co-managers.