"Strategy, the world's largest corporate holder of Bitcoin, has priced its initial public offering of 28,011,111 shares of Variable Rate Series A Perpetual Stretch Preferred Stock (STRC Stock) at $90 per share. The offering is expected to generate approximately $2.474 billion in net proceeds, with settlement scheduled for July 29, 2025."
"The STRC Stock offers a variable monthly dividend, beginning at an initial annualized rate of 9.00%, payable in cash and subject to monthly adjustment. The company intends to maintain STRC Stock's trading price at or close to its stated amount of $100 per share."
"In the event of a "fundamental change," STRC shareholders may require the company to repurchase their stock at $100 per share plus accumulated dividends. This adds a layer of security for investors."
"The liquidation preference starts at $100 per share and will adjust daily to reflect the highest of three values: the stated amount, recent market prices, or the 10-day average, providing further value for shareholders."
Strategy has officially priced its initial public offering (IPO) of 28,011,111 shares of Variable Rate Series A Perpetual Stretch Preferred Stock at $90 each, aiming to generate approximately $2.474 billion in net proceeds. Capital from this offering will be used for general corporate purposes, including Bitcoin acquisition and working capital. The STRC Stock features a variable monthly dividend beginning at 9.00%. Shareholders have rights to redemption and may require repurchase at $100 per share in certain changes, providing layers of security and flexibility.
Read at Bitcoin Magazine
Unable to calculate read time
Collection
[
|
...
]