Strive Starts $500M Preferred Stock “At-The-Money” Program for Bitcoin Purchases

Strive (ASST) Starts $500 Million ATM Program for High-Yield SATA Preferred Stock

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The new preferred stock offering, SATA, strengthens Strive’s capital options as it expands its bitcoin focused strategy.

By James Van Straten|Edited by Sheldon Reback

Dec 10, 2025, 10:16 a.m.

Strive announced a $500 million at-the-market offering to fund further bitcoin purchases.
SATA, the company’s preferred stock, offers a 12% dividend and trades below its $100 par value.
Proceeds from the offering may also be used for buying income-generating assets or company acquisitions.

Strive (ASST), a publicly traded bitcoin BTC$92,249.17 treasury and asset-management company, said it arranged a $500 million at-the-market offering (ATM) for its Variable Rate Series A Perpetual Preferred Stock (SATA) to help fund further purchases of the largest cryptocurrency.

SATA pays a 12% dividend with an effective yield near 13%, and the security is intentionally modeled after Strategy’s (MSTR) STRC money market style perpetual preferred equity. SATA currently trades around $91, below its $100 par value. An at-the-market offering allows a company to raise funds quickly by selling new stock near the current market price.

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Proceeds may be used to acquire bitcoin, purchase income-generating assets, support working capital, repurchase common shares or pursue acquisitions, the company said Tuesday. Strive, which holds about 7,525 bitcoin and is in the process of buying Semler Scientific (SMLR), ranks as the 14th-largest publicly traded bitcoin company.

Strive’s common stock, ASST, trades near $1 and is down about 2% in pre market activity.

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