DLA Piper advises underwriters in Strive’s US$630 million preferred stock initial public offering

DLA Piper advised the underwriters in Strive, Inc.’s (Nasdaq: ASST) US$630 million initial public offering of 7,000,000 shares of 15.00% Series A Perpetual SATS Preferred Stock. Barclays Capital Inc. and Cantor Fitzgerald & Co. acted as the representatives of the underwriters and book-running managers of the offering. The preferred stock is traded on the Nasdaq Global Market under the ticker symbol “SATS.”

Strive is a structured finance company and institutional asset manager focused on disciplined capital allocation and long-term value creation. It intends to use the proceeds for general corporate purposes, including the acquisition of bitcoin and bitcoin-related products and for working capital, the purchase of income generating assets to grow Strive’s business, other capital expenditures, and/or repurchases of shares of Strive’s Class A common stock or its Variable Rate Series A Perpetual Preferred Stock.

The DLA Piper deal team included Partners Stephen Alicanti, Bianca LaCaille and Alex Cushman (all New York), Of Counsels Alex Cavayero and Michael Madigan (both New York), Christine Lehr (Raleigh), Associates Sarah Cooper and Anna Johansen (both Seattle) and Filippo Zinni (New York).