Strategy, a company listed on the Nasdaq, has made a big announcement regarding the sale of a unique class of stock in order to raise additional capital. This action is a component of its continuous strategy to make significant investments in $BTC . After subtracting fees and expenditures, Strategy expects to get around $2.47 billion from the purchase, which is slated to be finalized by July 29. The purchase of more Bitcoin and daily operating costs are just two examples of the basic business operations that will be supported by these revenues.
$2.47 billion was raised through the issuance of preferred stock. Strategy has announced plans to sell 28 million shares of its Series A Stretch Preferred Stock (STRC) in a news release. In an initial public offering (IPO), each share will be offered for $90. Based on a $100 share price, investors will receive a monthly dividend from the new STRC Stock at an annual rate of 9%. Pending board approval, these payments are expected to start on August 31. The dividend rate may also be changed by strategy in response to market conditions, but only within predetermined bounds. Interest will accrue on any dividends that are not paid by the corporation on time.
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