STRIVE KEEPS $608 MILLION OF THE $630 MILLION SATS RAISE — $21 MILLION GOES TO THE UNDERWRITERS — 15% ON $700 MILLION COSTS 17.3% ON THE CASH IT KEEPS

Strive filed the final prospectus for its new SATS preferred on October 16, 2026. It is dated October 15. Buyers paid $90 a share for 7,000,000 shares, or $630 million. That is the figure in Strive's October 15 release, which calls it gross proceeds “before deducting the underwriting discounts and commissions.” The prospectus shows the deduction: $3.00 a share, or $21 million, to the banks led by Barclays and Cantor.

Strive puts its net at “approximately $608,150,000.” The dividend is 15% of the $100 stated amount, so $15 a share, or $105 million a year. On the $630 million buyers paid, that is 16.7%. On the $608.15 million Strive keeps, it is 17.3%. For every dollar of cash that stays, Strive owes $1.15 of stated value.

Not all of it heads for bitcoin first. At closing, Strive will put $22.50 a share, about $157.5 million, into its dividend reserve, paid from cash and securities it already holds. The rest goes to “general corporate purposes,” a list that runs from buying bitcoin to buying back SATA or common stock. The filing says management keeps “broad discretion” over the money. Dividends come due every business day starting November 9, 2026.

One gap. The prospectus gives Strive's holdings “as of October 9, 2026” at about 32,773 bitcoin. Strive's October 14 8-K had already reported 35,595 as of October 13. Settlement is October 20, 2026. The next 8-K will show how much of the $608 million becomes bitcoin. At the time of this writing, bitcoin was $81,684.