Terms

Series

Variable Rate Series A Perpetual Preferred Stock

Liquidation Preference

$100.00

Coupon Rate

12%

Rate Type

Variable

Annual Dividend

$12.00

Payment Frequency

Monthly

Cumulative

Yes

Perpetual

Yes

Convertible

No

Callable

Yes

First Call Date

December 9, 2025

First Call Price

$110.00

Capital Stack Ranking

Junior To: All Existing And Future Indebtedness Of Strive, Inc., All Liabilities And Capital Stock Of Subsidiaries (Structural Subordination); Pari Passu With: Dividend Parity Stock, Liquidation Parity Stock (None Currently Outstanding); Senior To: Class A Common Stock, Class B Common Stock, Dividend Junior Stock, Liquidation Junior Stock

Regulatory (Basel III) Call

No

Tax Classification

Other

Qualifies for QDI

No

Qualifies for DRD

No

Prospectus Summary

Strive, Inc. (Nasdaq: SATA) is offering up to $500 million of its Variable Rate Series A Perpetual Preferred Stock (ticker: SATA) via an at-the-market program through Cantor Fitzgerald, Barclays, and Clear Street. The stock carries a $100 stated liquidation preference per share, with dividends initially set at 12.00% per annum paid monthly on the 15th of each month — but the rate is adjustable at Strive's sole discretion each monthly period, subject only to a SOFR-based floor and a 25 bps-per-period reduction cap. The SATA Stock is cumulative, meaning unpaid dividends accrue and compound at the regular rate plus 25 bps (escalating up to 20% per annum), so missed payments are not forgiven — but the issuer retains broad discretion to set future rates. SATA Stock sits above Class A and Class B Common Stock in both dividends and liquidation, but is explicitly junior to all of Strive's existing and future debt obligations. Critically, it is structurally subordinated to all liabilities of Strive's operating subsidiaries, meaning subsidiary creditors are paid first before any value reaches the holding-company preferred holders. As of the filing date, Strive had no consolidated debt outstanding. There is no regulatory capital redemption trigger (Strive is not a bank). The issuer holds an anytime optional redemption right at $110 per share (a 10% premium to stated value), plus a clean-up redemption at liquidation preference if shares outstanding fall below 25% of total ever issued, and a tax-event redemption also at liquidation preference. At the initial 12.00% rate on a $100 stated value, the annualized dividend is $12.00 per share (~$1.00/month), representing a 12% yield at par; however, the market price was $91.65 at filing, implying a current yield of approximately 13.1%. Record dates fall on the 1st of each month for the 15th payment. Tax treatment is uncertain — the prospectus flags material risk around potential 'fast-pay stock' characterization under IRS rules, which could result in adverse tax consequences; standard QDI or DRD treatment is not confirmed. Dividend stopper mechanics restrict Strive from making payments on common or junior securities when accumulated SATA dividends remain unpaid, providing some structural protection to preferred holders.

Summarized from the SEC prospectus filing.

Distribution History

Floating Rate Terms

Ranking vs. Other Preferreds

Dividend Stopper Provisions

Dividend Stopper Description

If accumulated regular dividends on SATA Stock have not been declared and paid in full, Strive is restricted from making payments on or engaging in certain transactions with respect to junior capital stock (Class A and Class B Common Stock) and parity stock.

Div Score Breakdown

Reinvesty's multi-factor safety analysis for this preferred, composite score: 54 (Average)