Strive closes upsized $630M IPO of 7M 15.00% SATS preferred at $90/share, lists on Nasdaq

Strive, Inc.

Sold 7,000,000 shares of 15.00% Series A Perpetual SATS Preferred at $90/share ($630M gross); trading begins on Nasdaq under "SATS" on or around October 20, 2026.
SATS pays a 15.00% cumulative dividend on a $100 stated amount, in cash, when declared; first regular dividend date is November 9, 2026 and includes accruals from closing.
Strive pre-funded an 18-month dividend reserve equal to $22.50 per share (~$157.5M) using existing cash and securities.
SATS ranks senior to Class A/B common but junior to the existing SATA preferred; $100 liquidation preference resets daily to the greatest of stated amount, prior-day close, or 10-day VWAP.
Company may redeem all SATS if outstanding falls below 25% of the original issuance or on certain tax events; holders get a Fundamental Change repurchase right at stated amount plus accrued dividends.

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