The Bitcoin (BTC) treasury firm Strategy says it's ready to accumulate more of the crypto king after pricing a new preferred stock.
Bitcoin (BTC) treasury firm Strategy says it’s ready to accumulate more of the crypto king after pricing a new preferred stock.
Strategy announced the pricing of its offering of 8,500,000 shares of 10.00% Series A Perpetual Strife Preferred Stock (STRF), at a public offering price of $85.00 per share, for total gross proceeds of $722.5 million.
The company says it plans on using the net proceeds from the offering for general corporate purposes, including the acquisition of bitcoin and for working capital, according to a recent press release.
“The shares of preferred stock are expected to begin trading tomorrow, March 21, 2025, on the New York Stock Exchange under the ticker symbol “STRF.A.”
The company announced that the preferred stock offering would “accumulate cumulative dividends at a fixed rate of 10.00% per annum on the stated amount of $100 per share.” Preferred stock offerings yield fixed dividends much like bonds but also represent ownership in a company.
Strategy – formerly known as MicroStrategy – currently holds 499,226 BTC worth about $41.9 billion, according to data from Bitcoin Treasuries.
In February, Strategy announced that it was raising $2 billion through a private offering of 0% convertible senior notes – or debt securities that can be converted into a predetermined amount of the issuer’s shares – to further its Bitcoin acquisition spree.
The flagship digital asset is trading for $83,947 at time of writing, a marginal increase during the last 24 hours.
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