Strive, Inc. priced an upsized public offering of 7 million shares of its 15.00% Series A Perpetual SATS Preferred Stock. The company set the offering price at $90 per share. Total gross proceeds will reach approximately $630 million. This pricing represents a 10% discount to the stock's face value.
Net proceeds will fund general corporate purposes and further Bitcoin acquisitions. Strive significantly increased its Bitcoin holdings earlier in October. The offering is scheduled to settle on October 20, 2026.
Strong demand prompted the company to increase the offering from an initial 5 million shares. TD Cowen analysts raised their price target for Strive common stock to $56 from $44.
Strive common stock gained nearly 4% on the day of the announcement. The shares edged lower during overnight trading. Analysts anticipate reduced selling pressure from recent warrant exercises moving forward.