Strive prices $630 million preferred stock offering to fund bitcoin buys

What happened?

1. GuruFocus reported that on October 16, 2026, Strive Inc. (ASST) set a price of $90 per share on 7 million shares of SATS Preferred Stock from the 15.00% Series A Perpetual class, with 2 million shares added to the offering.
2. Estimated gross proceeds were about $630 million before expenses, with settlement expected on October 20, according to GuruFocus
3. The company's stated uses of proceeds include bitcoin purchases, acquiring income-generating assets and share repurchases, the reports said
4. Strive's ordinary shares rose about 4% on the announcement day; GuruFocus put the company's market capitalization at $2.60 billion
5. GuruFocus calculated a price-to-sales ratio of 212.02x against a historical median of 34.1x, and reported the company is unprofitable and cash-flow negative

GuruFocus reported that Strive Inc. priced 7 million shares of 15.00% Series A perpetual preferred stock at $90 on October 16, 2026, for estimated gross proceeds of about $630 million. The company has said the money will go toward bitcoin purchases, income-generating assets and share repurchases.

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