Strive, Inc. announced plans, subject to market and other conditions, to conduct an initial public offering of 5,000,000 shares of its 15.00% Series A Perpetual SATS Preferred Stock, or SATS Stock, under an effective Securities and Exchange Commission shelf registration statement. The shares will have a $100 stated amount and accrue cumulative dividends at an annual rate of 15.00%, with regular dividends payable when declared by Strive’s board from legally available funds. Strive intends to use the proceeds for bitcoin and bitcoin-related products, income-generating assets, working capital, capital expenditures, share repurchases and potentially acquisitions. The company plans to establish an 18-month dividend reserve equal to $22.50 per share at the offering’s closing. The terms include company redemption rights in specified circumstances, holder repurchase rights after a fundamental change and a liquidation preference that can adjust above the stated amount under defined market-price conditions. Barclays and Cantor are joint book-running managers, while Clear Street is lead manager.