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Strategy (Nasdaq: MSTR) is launching an IPO of 2.5 million shares of its 10 % Series A Perpetual Stride Preferred Stock under the ticker STRD. The company plans to use the proceeds to buy more Bitcoin and support general corporate operations.
The STRD stock will pay a 10% non-cumulative cash dividend annually distributed quarterly starting September 30, 2025. If a fundamental change occurs investors can demand Strategy repurchase their shares for $100 each plus any unpaid dividends. Strategy also reserves the right to redeem STRD shares if holdings fall below 25% of the original issue or if certain tax events arise.
Recently Strategy bought 705 more Bitcoin for $75 million at an average price of $106,495 per coin. This brings their total Bitcoin holdings to 580,955 BTC making them the largest corporate holder. The purchase was funded through an at-the-market sale of preferred shares raising $74.6 million which included sales of STRK and STRF stock.
