- Strategy plans a $250 million preferred stock sale (STRD) to fund additional Bitcoin buys and cover operating expenses.
- It will issue 2.5 million STRD shares at $100 each, targeting institutional and select non-institutional investors.
Strategy, plans to raise $250 million. It will do this by selling a new type of stock. The money is primarily intended to buy more Bitcoin.
The company announced on June 2nd its intention to issue 2.5 million shares. These shares belong to its “10% Series A Perpetual Stride Preferred Stock.” Each share carries a price of $100 and will trade under the ticker symbol STRD. Strategy stated the funds from this sale will be used to purchase additional Bitcoin and to cover general operating costs.
Strategy today announced the launch of $STRD ("Stride"), a new perpetual preferred stock offering, available to institutional investors and select non-institutional investors. For more information, click here. $MSTRhttps://t.co/GAWggiYwX9
— Strategy (@Strategy) June 2, 2025
This preferred stock is designed to exist permanently. It generally offers holders priority over common stockholders for dividend payments, if the company decides to pay them. Strategy will offer the STRD shares to institutional investors and a select group of non-institutional buyers.
This offering creates a different avenue for Strategy to finance Bitcoin acquisitions. In the past, the company mainly raised money through issuing common stock or convertible debt. Strategy currently possesses 580,955 Bitcoin. According to the company’s own website, this holding is valued at over $61.7 billion.
This makes Strategy the largest corporate holder of Bitcoin worldwide. Data from BitcoinTreasuries.NET shows Strategy’s Bitcoin amount is more than double the combined holdings of 117 other publicly traded companies that own Bitcoin. At the current Bitcoin price near $106,325, the $250 million raised could buy approximately 2,351.8 more Bitcoin.
Michael Saylor, Strategy’s Executive Chairman and co-founder, leads the company’s Bitcoin investment approach.
Owners of the STRD shares might receive yearly cash dividends equal to 10% of the share price. However, this depends entirely on a formal declaration by Strategy’s board of directors. These dividends are non-cumulative.
This means if Strategy misses a payment in one period, it is not obligated to pay that missed amount later. If the board approves dividends, payments would occur quarterly, starting on September 30, 2025.
Strategy has the option to buy back all remaining STRD shares for cash. This applies if less than 25% of the original shares issued are still held by investors. Furthermore, if a “fundamental change” happens at the company, STRD holders possess the right to demand Strategy repurchase their shares for cash. In both buyback situations, the price per share would be $100 plus any declared but unpaid dividends.
Several large financial institutions will manage the STRD share sale. Barclays, Morgan Stanley, Moelis & Company, and TD Securities are the main managers. Other investment firms, including The Benchmark Company and AmeriVet Securities, will also assist with the offering.
