Strategy (ticker MSTR) on Monday afternoon debuted a new set of perpetual preferred shares, the fourth such offering from the corporate bitcoin treasury pioneer.
The company formerly known as MicroStrategy intends to conduct an initial public offering registered under the Securities Act of 1933 of 5 million shares of Strategy’s Variable Rate Series A Perpetual Stretch Preferred Stock, also known as “STRC” stock. Strategy intends to use the net proceeds from the offering for general corporate purposes, including the acquisition of bitcoin and for working capital.
Earlier Monday, Strategy said it acquired 6,220 bitcoin for $739.8 million, raising total holdings to 607,770 BTC.
STRC shares will accumulate cumulative dividends at a variable rate per annum on the stated amount of $100 per share, according to the release. Regular dividends on STRC will be payable when declared by Strategy’s board of directors or any duly authorized committee thereof, out of funds legally available for their payment, monthly in arrears on the last day of each month, beginning on Aug. 31. The initial monthly dividend rate will be 9% per annum.
Perpetual preferred shares have no maturity date, but offer fixed dividend payments for as long as the company continues to operate. Strike (STRK) is convertible with an 8% fixed dividend while Strife (STRF) is non-convertible and offers a 10% fixed cumulative dividend. Stride (STRD) offers a fixed 10% non-cumulative annual dividend and is non-convertible.
These programs are in addition to its “42/42” plan, which targets a total capital raise of $84 billion in equity offerings and convertible notes for bitcoin acquisitions through 2027.
Strategy has found new ways to raise money for bitcoin accumulation by offering several different preferred shares of stock over the past several months. These securities “offer compelling income and price appreciation potential with less expected volatility than the common shares or underlying bitcoin,” according to TD Cowen.
Strategy’s stock closed Monday’s session at $426.31 per share, up 0.7% according to The Block’s MSTR price data.
© 2025 The Block. All Rights Reserved. This article is provided for informational purposes only. It is not offered or intended to be used as legal, tax, investment, financial, or other advice.
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