DLA Piper advises underwriters in initial public offering of Strive, Inc’s SATA Stock

DLA Piper advised the underwriters in Strive, Inc.’s upsized initial public offering of 2,000,000 shares of Variable Rate Series A Perpetual Preferred Stock (the SATA Stock) at a public offering price of $80 per share. The underwriters were led by Barclays Capital Inc. and Cantor Fitzgerald & Co.

Strive intends to use the net proceeds from the offering 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 the company’s business, other capital expenditures, repurchases of shares of the company’s Class A common stock, and/or repayment of debt.

The DLA Piper team included Partners Stephen P. Alicanti and Anna K. Spence (both New York), and Associates Bianca LaCaille, Sarah Cooper, and Anna Johansen (all Seattle). Partner Michael Madigan (Vancouver) advised on tax matters.

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