Strategy Reveals Planned IPO of STRD Shares to Increase Bitcoin Holdings

Strategy has disclosed plans to launch an initial public offering (IPO) for its 10% Series A Perpetual Stride Preferred Stock, with shares priced at $100 each under the ticker STRD. The firm aims to use the net proceeds from the offering for general corporate purposes, which include acquiring more Bitcoin and providing working capital.

The preferred stock offering, which is available to institutional and select non-institutional investors, will also offer a potential 10% dividend, and Strategy retains the right to redeem all 2.5 million shares under certain conditions. The company also announced the purchase of an additional 705 Bitcoin, bringing its total holdings to nearly 3% of the circulating supply.