Strategy Announces Proposed Initial Public Offering of STRC Shares

PANews reported on July 22 that Strategy (Nasdaq codes: MSTR, STRK, STRF, STRD) announced plans to issue 5,000,000 shares of variable-rate Series A perpetual extended preferred stock (STRC stock) through an initial public offering, subject to market and other conditions. The funds raised will be used for general corporate purposes, including Bitcoin acquisition and working capital. The initial annualized monthly dividend rate for STRC stock is 9.00%, with the company having the right to adjust the dividend rate according to relevant regulations. Morgan Stanley, Barclays, Moelis & Company, and TD Securities will serve as joint bookrunners for this offering. The offering will be conducted through an effective SEC registration statement and will be sold only through a prospectus.