The company will offer 2.5 million STRD shares, a preferred stock with an annual dividend of 10%. These dividends will not be guaranteed. They will only be paid if the board of directors of Strategy decides so and if funds are legally available.
If declared, dividends will be paid quarterly starting September 30, 2025. Investors should be aware that these payments will not accumulate over time if not made. Unpaid dividends will not accumulate.
STRD shares offer more than potential dividends. Strategy will use the raised funds for general operations and to buy more Bitcoin. This is consistent with its long-term strategy of holding Bitcoin as a reserve asset.
The company also included redemption options. You can redeem all STRD shares at any time if the total outstanding falls below 25% of the original amount. Redemption may also occur if certain tax changes happen. In such cases, shareholders will receive the original value of the share plus declared but unpaid dividends.
If a significant change occurs in the company (which the filing refers to as a "fundamental change"), investors may demand that Strategy repurchase their shares. The repurchase price will include, in turn, the base value of the share and any declared but unpaid dividend.
Each STRD share will have an initial value of $100. This value may be adjusted daily based on market activity. It can increase according to previous sale prices of STRD or the trading averages of the last ten days.
This comes at a time when Bitcoin is showing resilience, further validating Strategy's long-term strategy.
Several major firms are managing the IPO. Barclays, Morgan Stanley, Moelis & Company, and TD Securities are among them. Others, like BTIG and Bancroft Capital, are also involved.
This offering will not take place unless market conditions support it. A registration statement has already been filed with the U.S. Securities and Exchange Commission (SEC).
Strategy holds more Bitcoin than any other public company. It considers Bitcoin as "digital capital" and continues to finance purchases through its securities offerings.
The STRD stock is a further step in this approach. By offering new investment tools, Strategy integrates Bitcoin with traditional finance like few have attempted.
Investors interested in STRD can consult the official prospectus through the SEC or by contacting the underwriting banks. This approach reflects other institutional initiatives, such as the recent creation of Sharplink's Ethereum reserve treasury, highlighting the growing institutional interest in crypto assets.
