We advised Strive on the upsizes to its at-the-market offering programs

Davis Polk advised Strive, Inc. in connection with the upsizing of its SEC-registered at-the-market offering programs. The company’s Class A common stock at-the-market offering program was increased by $2.1 billion and the company’s variable rate series A preferred stock at-the-market offering program was increased by $2.1 billion. The Class A common stock is listed on the Nasdaq Global Market under the symbol “ASST” and the variable rate Series A preferred stock is listed on the Nasdaq Global Market under the symbol “SATA”.

Strive is a structured finance company and institutional asset manager focused on disciplined capital allocation and long-term value creation. With Bitcoin as its hurdle rate for capital deployment, Strive is focused on increasing Bitcoin per share to outperform Bitcoin over the long run. Strive Asset Management, LLC, a direct, wholly owned subsidiary of Strive and an SEC-registered investment adviser, manages over $2.7 billion in assets.

The Davis Polk team included partner Derek Dostal, counsel Michael Stromquist and associate Rebecca Lei. Members of the Davis Polk team are based in the New York and Northern California offices.

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