Strive establishes capacity to sell up to $1 billion of preferred shares

Strive ($ASST) entered a sales agreement allowing it to issue up to $1 billion of its 15% Series A Perpetual SATS preferred stock through an at-the-market program. This establishes financing capacity; it does not mean the company has already raised that amount. Sales would take place under a prospectus supplement to an existing registration statement.

The permitted uses include bitcoin and related investments, working capital, income-producing assets, capital spending, acquisitions, preferred dividends and potential debt repayments. Strive may also use proceeds to repurchase common shares or its separate SATA preferred stock. The program gives management flexibility to finance its investment strategy over time, but the actual proceeds depend on shares sold and market pricing. Any additional preferred issuance would also add to the capital claims and distributions supported by the business.

Sources:

• Issuer release via StockTitan
• GlobeNewswire