To Expand Bitcoin Purchases, Strategy Opens US$2.1 Billion Preferred Stock Offering

Strategy (MSTR) is once again expanding the preferred stock offering of Stride (STRD) from US$250 million to US$1 billion. This funding aims to expand the purchase of Bitcoin (BTC) and cover operational costs.
Strategy has announced its plan to sell 2.5 million newly preferred STRD shares. Depending on market conditions and approvals, Strategy will sell 10% of the Series A preferred shares with the stock code STRD.
Initially, Stride was supposed to sell only 2.5 million shares to small investors. Then, these STRD shares will contribute to the purchase of Bitcoin in general, although the funds are from selected investors.
This Strategy offering will place 11,764,700 shares of Series A Perpetual Stride preferred stock with an interest rate of 10.00%. In addition, the Strategy expects the offering with Stride to yield US$979.7 million.
Then, the Strategy offering with STRD is carried out in accordance with the registration application that has been submitted to the Securities and Exchange Commission (SEC). Furthermore, the decision to add a new type of stock follows the current better performance of the Strategy.