Strategy Launches $500M ‘STRC’ Preferred Stock Offering to Boost Bitcoin Reserves
Strategy (MSTR) has unveiled its latest capital-raising initiative aimed at expanding its already-massive bitcoin holdings. The company introduced a new class of preferred stock, STRC — dubbed “Stretch” internally — with plans to raise $500 million through the sale of 5 million shares at $100 each.
The STRC series will offer an initial dividend yield of 9%, and joins Strategy’s growing portfolio of preferred equity, which includes STRK, STRF, and STRD. The company also raised $736 million last week through its common stock at-the-market (ATM) program, with proceeds earmarked for further bitcoin acquisitions.
Strategy remains the dominant corporate player in the bitcoin space, with over 600,000 BTC valued at approximately $72 billion.
Shares of MSTR were little changed in after-hours trading following the announcement.
