Strategy Unveils STRC Preferred Stock to Raise $500M for Bitcoin Purchases
Strategy (MSTR) has launched a new fundraising initiative aimed at expanding its bitcoin holdings, introducing a fresh preferred stock series dubbed STRC, or “Stretch.”
The company plans to raise $500 million by offering 5 million shares of STRC at $100 per share, with the series carrying an initial dividend yield of 9%.
STRC joins Strategy’s growing stable of preferred equity offerings, including STRK, STRF, and STRD, as well as its active at-the-market (ATM) common stock program, which raised $736 million last week to support further bitcoin acquisitions.
Strategy is currently the largest corporate holder of bitcoin, with a treasury exceeding 600,000 BTC, valued at approximately $72 billion.
Following the announcement, MSTR shares remained largely flat in after-hours trading.
