Strategy Upsizes STRD Preferred Stock Offering to $1 Billion to Buy More Bitcoin

Strategy, in the past Micro strategyhas increased its offer from eternal pass or strd to $ 1 billion of $ 250 million in addition to the prices of the product, according to a company Blog post Published on Friday.

Strategy said that the product, that investors will pay a non-cumulative dividend of 10%, will be offered to the public for $ 85 per share. In terms of the proceeds from the offer, strategy will run away with $ 979 million to add to being Bitcoin Stockpile, the company added.

Strd represents the Third form of preferred stock Until now this year founded by strategy, accompanied by the company’s Strf and Strk products. Each offer has unique functions and benefits, between repayment functions and the possibility of dividends to build. Strategy was originally planning to offer strd to investors for $ 100 per share.

STD, in contrast to the STRF offer from Strategy, which also pays a quarterly dividend of 10%, there is no permission for the structure of missed dividend payments. And unlike the Strk supply of the strategy, strd does not allow an investor to turn the preferred shares into ordinary shares at a later time. STD is non-radio for life, which means that the preferred stock does not have a corresponding expiry date.

“It is our high-interest credit instrument,” said Strategy co-founder and executive chairman Michael Saylor in a video That he shared on X this week. “Compared to STRK or STRF, it must be a higher preferred instrument.”

During a presentation, Saylor shared an image stating that STR, which is on the Nasdaq, has a “limited” sensitivity to the price of Bitcoin. In terms of seniority, strd investors are behind the holders of STRF and STRK, but they still come for ordinary shareholders.

“STD represents the fourth gear in our Bitcoin engine,” he added. “The point of our motorcycle is to generate BTC torque through surgical management of us [at-the-money offering programs]. “

The company currently has 580,995 Bitcoin, or $ 60.9 billion from this letter. Bitcoin is currently priced at $ 104,638, in principle in the last 24 hours and returns from a short dip below $ 101,000 Mark Thursday afternoon.

The share price of the strategy rose as high as $ 377.80 during pre-market trade on Friday, but started to slide after the opening bell, according to Yahoo Finance. Now they are even higher, acting hands around $ 378.26, an increase of 2.6%.

Published by James Rubin