Strategy announced an IPO for its STRD preferred stock to raise $250 million for Bitcoin acquisitions and general corporate purposes.
The IPO consists of 2.5 million shares with a 10% non-cumulative dividend and redemption rights tied to outstanding shares and tax changes.
Major financial firms like Barclays, Morgan Stanley, and others are leading the IPO as book-running managers.
Strategy holds the largest publicly reported Bitcoin reserve, totaling 580,955 BTC valued at over $61 billion, and recently purchased $75.1 million worth of Bitcoin.