The company filed for an IPO of 5 million shares of its “Variable Rate Series A Perpetual Stretch Preferred Stock” (STRC Stock) at $100 par value per share, aiming to raise approximately $500 million before expenses.

Net proceeds from the offering are intended for general corporate purposes, including acquiring additional units of bitcoin (BTC) and providing working capital. This marks Strategy’s fourth preferred stock offering designed to fund its bitcoin treasury strategy.

The stretch (STRC) Stock will pay cumulative monthly dividends, starting at an annual rate of 9.00%. Strategy retains the right to adjust this variable rate monthly, subject to specific restrictions aimed at maintaining the stock’s price near its $100 par value. The announcement notes that unpaid dividends will compound monthly.

Strategy can redeem shares under certain conditions, including after listing on a major exchange at $101 per share plus unpaid dividends. Other redemption scenarios include “clean-up” redemptions for small outstanding amounts and “tax redemptions,” both paying the liquidation preference plus dividends.

Morgan Stanley, Barclays, Moelis & Company, and TD Securities are joint book-running managers. Several other firms are co-managers for the offering. Strategy, holding 607,770 bitcoin as of today, utilizes proceeds from equity and debt offerings to accumulate bitcoin as its primary treasury reserve asset. So far, this bet on bitcoin has paid off handsomely.

免责声明：本文章仅代表作者个人观点，不代表本平台的立场和观点。本文章仅供信息分享，不构成对任何人的任何投资建议。用户与作者之间的任何争议，与本平台无关。如网页中刊载的文章或图片涉及侵权，请提供相关的权利证明和身份证明发送邮件到support@aicoin.com，本平台相关工作人员将会进行核查。