Strive buys 3,311 Bitcoin for $280 million, announces $500 million SATS preferred stock IPO

Bitcoin treasury company Strive announced a proposed $500 million IPO for a new Series A Perpetual Preferred Stock under ticker SATS, offering a 15% fixed dividend paid daily starting November 9, 2026. The SATS shares sit junior to Strive's existing SATA stock, with higher yields compensating investors for subordination. Strive acquired 3,311 Bitcoin in the week prior to October 13, 2026, bringing its treasury to 32,773 coins worth $2.7 billion and ranking fifth globally.

Strive expands Bitcoin treasury holdings

• ▪Strive acquired 3,311 Bitcoin during the week ending October 13, 2026, expanding its treasury from fewer than 20,000 coins three months prior to 32,773 coins worth approximately $2.7 billion
• ▪Strive ranked fifth among 100 public Bitcoin treasury companies as of October 13, 2026, with total holdings of 32,773 Bitcoin

Strive announces SATS preferred stock IPO

• ▪Strive plans to use proceeds from its $500 million SATS IPO to purchase additional Bitcoin, acquire income-producing assets, or buy back stock
• ▪Barclays and Cantor Fitzgerald will serve as joint book-running managers for Strive's proposed $500 million SATS IPO, with Clear Street and B. Riley Securities providing additional management
• ▪Bitcoin treasury company Strive announced a proposed initial public offering of 5 million Series A Perpetual Preferred shares under ticker SATS at $100 per share to raise $500 million

Terms of Strive SATS dividend structure

• ▪Strive's SATS preferred stock carries a 15% fixed annual cumulative dividend paid daily, with regular payments scheduled to begin on November 9, 2026
• ▪Strive intends to establish a cash reserve at the closing of its $500 million SATS IPO to fund the first 18 months of SATS dividend payments
• ▪Strive's SATS perpetual preferred stock sits junior to its SATA perpetual preferred stock class, yielding 15% versus SATA's 13% rate to compensate shareholders for taking a subordinate position