Strive CEO warns against assuming automatic SATA issuance at $100

Matt Cole, CEO of Bitcoin acquisition company (DAT) Strive (ASST), stated on X that investors should not assume the company will automatically issue new shares of its preferred stock, SATA, at $100 without a separate announcement. He explained that while a $100 target and minimizing long-term volatility remain core objectives, current market conditions are not normal. Cole believes that maintaining the flexibility to issue shares around the $100 mark aligns with the long-term interests of shareholders and the stability of SATA. He added that a predictable, mechanical issuance rule could encourage trading that increases volatility over time, a risk he said is no longer theoretical given recent market movements. Cole also noted that while the company will reference market data such as short interest and borrowing costs, it will not rely solely on any specific metric and will not pre-announce specific actions like halting issuance. His comments follow a previous request for market feedback on a potential temporary halt to issuance, citing an increase in short interest and stock borrowing costs for SATA.