EddieJayonCrypto
2 Jun 25
Strategy announced a new offering of 2.5 million shares of its 10% Series A Perpetual Stride Preferred Stock ("STRD") with a $100 initial liquidation preference and non-cumulative 10% annual dividends payable if declared. Proceeds will fund general corporate activities, including Bitcoin purchases. ...
Strategy launches an offering of 2.5 million shares of its 10% Series A Perpetual Stride Preferred Stock (STRD) to raise funds for Bitcoin purchases and expansion of fixed-income products. STRD shares have a $100 initial liquidation preference with a daily reset mechanism to protect principal and pay non-cumulative 10% annual dividends whenever declared by Strategy’s board. These preferred shares rank senior to common stock but junior to debt, featuring no maturity date. Redemption and put options provide liquidity protections: Strategy may redeem all shares if total issuance falls below 25% of aggregate shares sold, or upon certain tax events; investors can put shares back after fundamental corporate changes. Dividends are payable quarterly beginning September 30, 2025; however, as non-cumulative dividends, missed payments are not owed. The offering is managed by prominent financial firms, positioning STRD as a tool to bolster Bitcoin holdings and expand fixed-income offerings, with final terms subject to regulatory review and prevailing market conditions.