SATS is now listed on Nasdaq. 15.00% fixed annualized dividend rate based on $100 stated amount. Paid every business day. First dividend: November 9, 2026, inclusive of dividends accrued since the October 20 closing. $SATS $ASST $SATA

Welcome Back to The Hurdle Rate Episode 78: Bitcoin Fell, We Grew 6x In this week’s Hurdle Rate, the crew breaks down the $700M SATS IPO, Strive’s first year as a public company, and growing from 5,886 to 36,818 $BTC through a bear market. They also discuss why $SATS is a 15% fixed rate preferred junior to $SATA, how the $ASST amplification engine was built, and what TradFi investors asked during a high yield selloff. Here’s the latest with @ColeMacro, @PunterJeff, @Werkman, @IIICapital, and @AdamBLiv. Timestamps: 00:00 - Intro 00:54 - Strive’s First Year 06:58 - 6x the Bitcoin in a Bear Market 14:40 - The Amplification Engine 22:18 - The Dream Bear Market 25:22 - Why SATS Is 15% Fixed 34:32 - Designing SATS 42:27 - Treasury Breakeven ARR 46:40 - The Digital Credit Bubble 55:54 - Pricing Through a High Yield Selloff 01:01:13 - What’s Your LTV? 01:06:30 - The 18-Month Dividend Reserve

Today, Strive paid a cash distribution of $0.0516 per $SATA share. The daily dividend represents an annualized rate of $13 per $SATA share and an effective yield of 13.3% as of the latest market close. This payment marks the 94th consecutive dividend to shareholders.

Today, Strive paid a cash distribution of $0.0516 per $SATA share. The daily dividend represents an annualized rate of $13 per $SATA share and an effective yield of 13.4% as of the latest market close. This payment marks the 93rd consecutive dividend to shareholders.

Last Wed-Fri, Strive acquired 1,223 BTC at an average cost of $81,734 per bitcoin, bringing holdings to ₿36,818. - SATS IPO proceeds settle this Tuesday - Strive plans to maintain current 18-month dividend reserve - Traditional warrants are expired $ASST $SATA $SATS

Today, Strive paid a cash distribution of $0.0516 per $SATA share. The daily dividend represents an annualized rate of $13 per $SATA share and an effective yield of 13.3% as of the latest market close. This payment marks the 92nd consecutive dividend to shareholders.

Strive announces upsized IPO of $SATS to $700M notional, priced at $90 per share. We'll discuss the details in depth on the next @HurdleRatePod, which will be released when the IPO settles next Tuesday.

Today, Strive paid a cash distribution of $0.0516 per $SATA share. The daily dividend represents an annualized rate of $13 per $SATA share and an effective yield of 13.3% as of the latest market close. This payment marks the 91st consecutive dividend to shareholders.

If you want to be a "select investor" in the $SATS IPO, visit the Fidelity brokerage platform in the link below. The Fidelity indication of interest window ends today. For additional information please visit the SATS IPO website at strive.com/sats-ipo/.

Today, Strive paid a cash distribution of $0.0516 per $SATA share. The daily dividend represents an annualized rate of $13 per $SATA share and an effective yield of 13.2% as of the latest market close. This payment marks the 90th consecutive dividend to shareholders.

Through Tuesday, Strive acquired an additional 2,822 BTC for $235M, increasing holdings to ₿35,595. - 13.7M of 15.3M remaining warrants exercised, worth $369M in gross proceeds - 94% of traditional warrants exercised in aggregate - Amplification ratio: 47% $ASST $SATA $SATS

Strive plans to release an 8-k with additional information regarding final warrant exercises and additional Bitcoin purchases tomorrow pre-market open. Please visit our website for additional information regarding SATS: strive.com/sats-ipo

Today, Strive paid a cash distribution of $0.0516 per $SATA share. The daily dividend represents an annualized rate of $13 per $SATA share and an effective yield of 13.1% as of the latest market close. This payment marks the 89th consecutive dividend to shareholders.