Tysons Corner-based Strategy Inc., formerly known as MicroStrategy, ignited market buzz on Friday with the pricing of a bold $1 billion initial public offering of preferred stock—aimed squarely at one mission: buying more bitcoin.
In a decisive pivot away from its software roots, the company rebranded as a full-fledged bitcoin treasury firm, launching its Series A Perpetual Stride Preferred Stock to supercharge its crypto coffers.
$85 Per Share—With a 10% Yield Teaser
Strategy priced 11.76 million preferred shares at $85 each, according to its official announcement, raising approximately $1 billion before transaction costs. The offering, structured as a private placement, comes with an enticing 10% annual dividend yield, contingent on board approval.
These Series A shares are set to trade on the Nasdaq under the ticker “STRD,” expanding a portfolio of preferred listings that already includes STRF and STRK.
IPO Proceeds: Straight to Bitcoin
In true Saylor fashion, the company made its intentions crystal clear: “The net proceeds will be used for general corporate purposes, including the acquisition of bitcoin and for working capital.”
This latest offering follows Strategy’s March filing to raise up to $21 billion in future equity sales, all earmarked for crypto purchases. It’s a daring financial strategy that mirrors Saylor’s outspoken belief in bitcoin as the ultimate store of value—a kind of modern digital gold vault.
