Strategy (formerly MicroStrategy) on Friday said it has upsized the deal from $250 million to $1 billion for STRD perpetual preferred stock offering. The company decided STRD stock public offering price of $85.00 per share.
At the time of writing, Strategy stock price was up 0.85% to $375 in premarket trading hours, after a 2.46% drop on the previous day.
Strategy Announces Pricing of STRD Initial Public Offering
According to a press release on June 6, Strategy announced $85.00 as the public offering price for STRD perpetual preferred stock.
The company had proposed offering 11,764,700 shares of 10.00% Series A Perpetual Stride Preferred Stock to buy more Bitcoin.
Moreover, Chairman Michael Saylor in an X post further revealed that the Stride perpetual preferred stock (STRD) offering was upsized from the initial $250 million to $1 billion. As per the disclosure,
“Strategy estimates that the net proceeds to it from the offering will be approximately $979.7 million, after deducting the underwriting discounts and commissions and Strategy’s estimated offering expenses.”
Barclays, Morgan Stanley, Moelis & Company, and TD Securities are the joint book-running managers to lead the offering.
Also, The Benchmark Company, AmeriVet Securities, Bancroft Capital, BTIG, and Keefe, Bruyette & Woods are acting as co-managers for the offering.
STRD Non-Cumulative Dividends
As revealed earlier by Strategy, STRD will have non-cumulative, non-mandatory dividends, junior to STRF. It means 10% annual dividends will be paid only if declared by the board and are non-cumulative.
Besides, the company planned to pay regular dividends on the STRD Stock quarterly, beginning on September 30, 2025. The issuance and sale of the STRD stock are scheduled for next week on June 10.
Strategy offered STRK and STRF stock this year to raise funds and acquire more Bitcoin. STRK price has rallied 25.60% year-to-date.
Strategy’s Aggressive Buying Strategy
At the time of writing, Strategy’s total Bitcoin holding stands at 580,955 BTC valued at over $61 billion. Michael Saylor’s Strategy has made over $20.2 billion in unrealized gains, as per Saylor Tracker.
The bitcoin purchases were made using proceeds from the MSTR Class A shares, STRK, and STRF shares at-the-market (ATM).
As other companies followed Strategy to adopt Bitcoin as a reserve asset, the Michael Saylor-led firm has accelerated its Bitcoin buying practice this year. Notably, the company bought bitcoin for eight straight weeks.
Today, Metaplanet announced a plan to raise $5.4 billion to purchase 210,000 BTC by 2027. Under the new goal, the company will issue 555 million shares through moving strike warrants to acquire more Bitcoin.
The highly ambitious plan also underscored the Japanese firm’s plan to narrow the gap with its peers. Metaplanet’s total BTC holdings stand at 8,888 BTC at the time of writing.
MSTR Stock Jumps as Bitcoin Rebounds
Bitcoin price tumbled to a low of $100,436 as a result of crypto options expiry and US nonfarm payrolls data. However, the price recovered with BTC price at $104,025 at the time of writing.
The buying was also recorded in the derivatives market, but the overall sentiment remained bearish amid rising uncertainty.
As a result, MSTR stock also jumped in premarket trading hours. The stock price increased 1.82% to $375.52, after a more than 2% drop on the previous day.
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