Strive, Inc. has completed an upsized initial public offering of 7,000,000 shares of its 15.00% Series A Perpetual SATS Preferred Stock. The shares were sold at a public offering price of $90 per share, raising a total of $630,000,000. The SATS Stock is expected to begin trading on the Nasdaq Global Market on or around October 20, 2026, under the ticker symbol "SATS." The offering was conducted pursuant to a Form S-3 registration statement.
Under the terms of the Certificate of Designation filed with the Nevada Secretary of State on October 19, 2026, the SATS Stock carries a stated amount of $100 per share and accumulates cumulative dividends at an annual rate of 15.00%. Regular dividends are payable on each business day beginning November 9, 2026, and will be declared by Strive’s board of directors. The company has established a dividend reserve and deposited an equivalent of $22.50 per share into a funded account to cover the first 18 months of dividend payments.
From a structural standpoint, the SATS Stock ranks senior to Strive’s Class A and Class B common stock regarding dividends and asset distribution upon liquidation. However, it is junior to the company’s existing Variable Rate Perpetual Preferred Stock and subsidiary liabilities. The preferred shares have a liquidation preference of $100 per share, subject to daily adjustments based on trading prices. Strive retains the right to redeem all outstanding shares under specific conditions, and holders have the right to require a repurchase in the event of a "Fundamental Change." The SATS Stock also holds voting rights regarding amendments to the company’s articles of incorporation and certain business combination transactions.
