Strive Shares Dip After Announcing $1 Billion Preferred Stock Offering

Shares of Strive, Inc. (NASDAQ: ASST) fell 1.9% after the company announced it has launched a $1.0 billion at-the-market (ATM) offering for its high-yield preferred stock.

Offering Details

Strive entered into a sales agreement to issue and sell its 15.00% Series A Perpetual SATS Preferred Stock (NASDAQ: SATS), according to a prospectus supplement filed with the Securities and Exchange Commission on October 26, 2026. The agreement allows the company to sell shares from time to time up to an aggregate offering price of $1.0 billion.

An at-the-market offering provides the company with flexibility to sell shares directly into the open market at prevailing prices, rather than through a single, fixed-price underwritten offering. The offering is being made under Strive's existing automatic shelf registration statement, which became effective on September 15, 2025.

Use of Proceeds

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Strive stated it intends to use the net proceeds for a wide range of general corporate purposes. The company highlighted several potential uses for the capital, including:

• The acquisition of bitcoin and bitcoin-related products.
• Purchases of other income-generating assets to expand its business.
• Working capital and capital expenditures.
• Repurchases of its Class A common stock or other preferred stock series.
• Funding potential acquisitions of complementary businesses or technologies.

Market Impact and Context

ATM offerings can place downward pressure on a company's stock price, as the potential issuance of new shares can be dilutive to existing shareholders. The decline in Strive's common stock reflects investor reaction to the scale of the potential capital raise and the broad mandate for how the funds may be deployed.