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Strategy, led by Michael Saylor, has announced plans for the initial public offering of 2,500,000 STRD shares. The new Series A preferred shares, which offer a 10% return, aim to bring in substantial revenue for the company.
Sale of Shares to Purchase Bitcoin
According to the company’s announcement, the newly issued STRD shares will provide an annual 10% cash dividend. These dividends will be distributed quarterly, with the first payment scheduled for September 30, 2025. It’s noted that the dividends will not be cumulative, meaning missed payments will not be paid later.
Net proceeds from the public offering will be used for general corporate purposes, which notably include the acquisition of cryptocurrency assets and working capital. Post-public offering, company officials plan to increase the amount of digital assets in their asset portfolio.
STRD shareholders will have the right to sell their shares back to the company under certain conditions. Should a “fundamental change” as defined in the share terms occur, shareholders will be able to return their current STRD shares for a specified amount.
Moreover, the company reserves the right to buy back all STRD shares under specific conditions, such as if the total issued shares fall below 25% or in case of tax events. In such situations, shareholders would receive $100 per share and any accrued but unpaid dividends.
Acquisition of Bitcoin
In June, Strategy made its first purchase of Bitcoin 
$105,328, allocating $75 million for the acquisition. These steps are strengthening the company’s position as the largest institutional investor in the cryptocurrency sector. Recent purchases were financed through regular capital increases and new share issuances.
SEC filings reveal that between May 26 and June 1, the company acquired Bitcoin at an average price of $106,495 per unit, raising the total number of cryptocurrency assets in their portfolio to 580,955.
Apart from STRD, funds were also raised from the sale of STRK and STRF preferred shares, totaling $74.6 million. These sales offer diverse options to investors through different classes of preferred shares.
A significant portion of funds raised through the STRD stock offering may be used to grow the company’s digital asset portfolio. This could enhance the company’s competitive position in the market while providing various returns to investors. The preferred share structure seeks to expand strategic maneuverability, enabling potential investors to engage with different risk and return profiles through dividends and buyback rights.
