Strive said its preferred stock SATS has started trading on the Nasdaq. The company said the stock debuted Tuesday and will pay a 15% dividend every business day.
The Nasdaq-listed company said it closed an upsized initial public offering of 7,000,000 SATS shares at a public offering price of $90 per share.
A post cited by Bitcoin Magazine said SATS has officially completed its Nasdaq IPO and is raising $630 million to buy more bitcoin and income-generating assets.
The listing arrives as public companies keep packaging bitcoin exposure into new financial products. Strategy, one of the earliest and best-known bitcoin treasury companies, has five preferred stocks and proposed daily dividends for its products last month.
Matt Cole, Strive’s chairman and chief executive officer, said in a statement: 「The successful, upsized IPO of SATS marks a critical milestone in our strategy to maximize long-term total returns for our common equity investors.」
Strive also has another preferred stock, SATA, which pays a variable dividend.
The company became an official bitcoin treasury last year and is now the fourth-largest company in that segment. Founded by former Ohio gubernatorial candidate and tech entrepreneur Vivek Ramaswamy, Strive holds 36,818 BTC worth more than $3 billion at current prices.
On Monday, the company announced another bitcoin purchase of 4,045 BTC made between Oct. 12 and Oct. 16.
In January 2026, Strive completed its acquisition of Semler Scientific in an all-stock deal. The report described it as the first instance of a publicly traded bitcoin treasury company acquiring another such company.
Like other digital asset treasury firms, Strive’s model is built around giving investors amplified returns through the stock. The company buys bitcoin with equity and keeps a debt-free balance sheet, with no bonds, no credit lines and no leveraged positions that could trigger forced liquidation during a downturn.
Strive is following a path established by software company Strategy, which began buying bitcoin in 2020. Strategy is now the largest corporate holder of bitcoin, with 848,517 BTC worth more than $60 billion. Its five preferred stocks are STRF, STRC, STRK, STRD and STRE.
Strive’s common stock, ASST, was up 4% on Tuesday.
This report first appeared in Bitcoin Magazine and was written by Mathew Di Salvo.