Strive, the Nasdaq-listed structured finance firm co-founded by Vivek Ramaswamy, announced a $500 million at-the-market offering of its Variable Rate Series A Perpetual Preferred Stock (SATA) on December 9. The offering will be conducted under a sales agreement with Cantor Fitzgerald, Barclays, and Clear Street, allowing shares to be sold directly to the market at prevailing prices over time.
The proceeds are intended to fund future Bitcoin acquisitions alongside general corporate purposes. The SATA stock carries a 12.00% annual dividend, with the company retaining the ability to adjust the rate. The program follows Strive’s upsized SATA IPO in November, which saw 2 million shares priced at $80 per share, trading on the Nasdaq Global Market.
Strive operates as a publicly traded Bitcoin treasury firm, holding 7,525 BTC as of Nov. 7, and aims to increase BTC-per-share over time. The ATM offering provides flexibility for incremental capital deployment while supporting Strive’s broader objective of enhancing shareholder exposure to Bitcoin through structured financial instruments.
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