Strive Proposes IPO for New Preferred Stock Offering 15% Yield
Bitcoin treasury company Strive has announced plans for an initial public offering (IPO) of a new Series A Perpetual Preferred Stock, to be traded under the ticker symbol SATS. The company intends to offer 5 million shares at $100 each, with an annualized dividend yield of 15.00%. This rate is positioned to be the highest among publicly traded Bitcoin treasury companies.
The first dividend payments are slated to commence on November 9, 2026. The capital generated from this offering will be allocated towards acquiring Bitcoin and Bitcoin-related assets. Barclays and Cantor Fitzgerald are set to act as joint book-running managers, with support from Clear Street and B. Riley Securities.
This new preferred stock, SATS, will operate alongside Strive’s existing preferred stock, SATA. The dual issuance aims to enhance the firm’s Bitcoin-backed corporate balance sheet. Notably, SATS will offer a higher yield of 15% compared to SATA’s 13%. This increased yield is intended to compensate shareholders for taking a subordinate position with the new shares relative to existing ones.
At the time of reporting, SATA was trading at $98.96 in after-hours trading, reflecting a 3.89% year-to-date increase.
Strive currently ranks fifth among 100 public Bitcoin treasury companies, holding 32,773 BTC. Strategy leads the pack with 848,250 BTC, followed by Metaplanet with 44,000 BTC.
Both Strive and Strategy employ share offerings to fund their Bitcoin accumulation strategies. Strategy, however, offers a lower annualized dividend ranging from 8% to 12%, depending on the specific share class. In a move that mirrors Strive’s SATA stock structure, Strategy is also exploring a transition to daily dividend payouts across its shares.
