Strive Prices Upsized $630M IPO of 15% SATS Preferred Stock

TD Cowen raised its price target for Strive, Inc. (ASST) to $56 from $44, citing faster Bitcoin (BTC) accumulation. Strive's BTC holdings grew to 35,595, exceeding estimates. The company issued $630M in preferred shares to fund purchases, maintaining a debt-free balance sheet. Analysts highlight the strategy of financing via preferred equity to grow BTC holdings without issuing common stock.

Strive (ASST), a bitcoin treasury company, is offering a new preferred stock, SATS, paying a 15% annual dividend daily. The $500M offering will fund bitcoin purchases and other assets. SATS ranks behind existing preferred stock SATA. Strive recently bought 3,311 BTC, aiming to become the second-largest public bitcoin holder by year-end. The dividends' sustainability depends on bitcoin's price and Strive's ability to raise new capital.

Strive Inc. (ASST) shares fell 7.29% after pricing a $630M offering, raising dilution concerns. The capital will fund bitcoin bets and other investments, but heavy losses and crypto exposure increase risk. Tesla (TSLA) unveiled a flying Roadster, showcasing engineering prowess, while SpaceX (SPCX) pursues telecom ventures. Analysts see 14% upside for TSLA and 49% for SPCX.

Strive's Class A shares (ASST) rose 3.93% to $25.65 on Oct. 15 before a preferred-stock offering announcement. The company priced 7 million Series A Perpetual SATS Preferred Shares at $90 each, raising about $630 million. Proceeds may be used for Bitcoin purchases, working capital, and other purposes.

Strive Inc. (ASST) priced a $630M offering of 7M shares of 15% Series A Perpetual SATS Preferred Stock at $90/share, upsizing by 2M shares. Proceeds will fund bitcoin investments, acquisitions, and share repurchases. ASST's P/S ratio is 212.02, far above its historical median of 34.1x, indicating high growth expectations. The company's GF Score is 19/100, reflecting weak profitability and growth despite strong financial strength.

Strive, Inc. (ASST) priced a 7 million share IPO of its 15% Series A Perpetual SATS Preferred Stock at $90 per share, raising $630 million. The offering was increased by 2 million shares. Proceeds will be used for general corporate purposes, including bitcoin purchases and potential acquisitions.