Strive launches SATA shares, expands Bitcoin treasury holdings
According to a press release on November 10, Strive Inc., founded by Vivek Ramaswamy, has completed its initial public offering (IPO) on the Nasdaq under the ticker “SATA.” The company expanded the offering to raise $160 million through the sale of 2 million new perpetual preferred shares with a floating dividend rate.
Strive now holds 7,525 bitcoins (BTC) on its balance sheet, including 1,567 BTC recently purchased at $103,315 each, forming the foundation of its long-term Bitcoin treasury management strategy.
The company stated that the newly raised capital will act as a “Bitcoin amplifier”, directly funding additional BTC acquisitions to strengthen its treasury position.
“The successful IPO of SATA makes Strive the first Bitcoin treasury management company to finance Bitcoin expansion entirely through perpetual preferred shares — and the second, after Strategy, to issue publicly traded perpetual preferred stock,” said Matt Cole, CEO of Strive.
A Broad spectrum of financing without delays
Strive’s approach represents a sophisticated blend of traditional finance principles and cryptocurrency strategy. Chief Risk Officer Jeff Walton emphasized that the company applies advanced mathematical risk-control models to its Bitcoin-based balance sheet, leveraging the firm’s traditional financial expertise.
Strive views Bitcoin as a scarce, liquid, and transparent asset, making it a suitable foundation for a long-term yield-oriented, risk-adjusted financial instrument. Features such as floating-rate dividends on SATA shares are designed to provide predictable returns while supporting the growth of the firm’s digital treasury.
A key element of Strive’s financial flexibility is its official designation as a Well-Known Seasoned Issuer (WKSI) by the U.S. Securities and Exchange Commission (SEC). Combined with its active shelf registration, this status gives Strive significant agility in accessing capital markets.
It allows the company to raise funds rapidly across a wide range of financing structures without SEC-related delays, effectively granting it a pre-approved toolkit for future market operations.
As we wrote, Vivek Ramaswamy plans $750M Bitcoin strategy focused on distressed claims
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