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Michael Saylor’s Strategy Announces Initial Public Offering of 2,500,000 STRD Shares

  • Strategy (Nasdaq: MSTR; STRK; STRF) has announced an initial public offering of 2,500,000 STRD shares of Strategy’s 10.00% Series A Perpetual Stride Preferred Stock.
  • The net proceeds from the offering will be used for general corporate purposes, including the acquisition of bitcoin and working capital.
  • The STRD Stock offers non-cumulative cash dividends at an annual rate of 10 percent and Strategy has the option to redeem outstanding shares under certain conditions.
  • Strategy (MSTR) also acquired 705 Bitcoin for $75 million, expanding its position as the largest corporate holder of Bitcoin with total holdings now at 580,955 BTC.

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