Strive, Inc. announced a variable‑rate Series A perpetual preferred stock offering of 1,250,000 shares, priced at $110 per share, to raise net proceeds for general corporate purposes, including the acquisition of Bitcoin, working capital, and potential business acquisitions.
The offering is registered under the Securities Act and will pay a monthly regular dividend at an initial rate of 12% per annum, payable in cash starting December 15, 2025. Strive will fund a dividend reserve of $12 per share at closing to support the dividend payments.
The company may redeem the shares at a cash price of $110 per share (or higher) after the stock is listed, subject to redemption thresholds of a minimum outstanding amount of $50 million and other conditions. Barclays and Cantor are joint book‑running managers, with Clear Street as co‑manager.
Strive is the first publicly traded asset‑management Bitcoin treasury company. As of October 27, 2025, it held 5,957.9 bitcoins; a pending merger with Semler Scientific would bring combined holdings to roughly 10,900 bitcoins. The company’s financials show negative earnings (EPS –$0.80, net income –$2.66 million, revenue $0.17 million) and a high price‑to‑sales ratio of 166.88, with institutional ownership at 0.02% and insider ownership at 17.98%.
The variable dividend rate is tied to the Secured Overnight Financing Rate (SOFR), exposing Strive to interest‑rate risk. Management highlighted the high dividend burden and potential liquidity impacts if cash obligations are missed, while noting that the preferred stock structure provides flexibility to fund growth and Bitcoin accumulation.
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