Nowadays strategy (Nasdaq: MSTR; STRK; STRF) announced That it is planning to perform a first public offer of 2,500,000 strd shares of strategy’s 10.00% series a Petual Stride preferred stock.
“Strategy plans to use the net revenue of the offer for general business purposes, including the takeover of Bitcoin and for working capital,” the company said in the announcement.
The STRD shares will offer non-cumulative cash dividends at an annual rate of 10 percent, quarterly paid on 31 March, 30 June, 30 and 31 December of each year, starting on 30 September 2025. If dividends are not declared, they will not be collected, and strategy says it is not necessary to invent missed payments.
Strategy may redeem all outstanding STRD shares if the total number of less than 25 percent of the original issue falls or if certain tax events take place. In such cases, holders receive the liquidation judge of $ 100 per share plus any indicated and unpaid dividends.
The company stated: “If a case that forms a” fundamental change “under the certificate of names for the STD shares, then holders of the STRD shares have the right to demand fundamental change date.”
Even today, Strategy (MSTR) acquired another 705 bitcoin for around $ 75 million, making his position as the largest company holder in Bitcoin extensively as more public companies continue to use Bitcoin Treasury strategies.
According to their SEC entering on 2 June, they bought Bitcoin at an average price of $ 106,495 each between 26 May and 1 June, which brought their total interests to 580,955 BTC. The acquisition was financed by selling some of their preferred shares through a market supply on the market (ATM).
The company has raised $ 74.6 million by selling a combination of the preferred classes, including 353,511 shares of STRK preferred stock for $ 36.2 million and 374,968 shares of STRF preferred stock for $ 38.4 million. With this purchase, the average acquisition price of Strategy in all its Bitcoin Holdings is $ 70.023 per coin.