Strategy to Offer $2.1 Billion in ‘Crown Jewel’ Preferred Stock
Strategy plans to raise $2.1 billion by issuing more preferred stock, as detailed in a SEC filing. The Perpetual Strife Preferred Stock (STRF) offers a 10% annual cash dividend and is available only to institutional investors, featuring an escalation mechanism for missed payments. This offering complements other fundraising efforts, including $21 billion through Perpetual Strike Preferred Stock (STRK) and $21 billion from common shares. STRF's price has risen 16% to $99.8 since its launch. Strategy's President and CEO Phong Le reported STRF's daily trading volume at $31 million. Co-founder Michael Saylor emphasized STRF's appeal to a new class of investors hesitant about Bitcoin. Strategy holds 576,000 Bitcoin valued at approximately $64 billion and recently acquired an additional $764 million in Bitcoin. Strategy's stock price increased by 2.8% to $413, while Bitcoin reached a new all-time high of $111,000.
