Strategy launches $4.2 billion STRD preferred stock issuance program, with funds to be used for Bitcoin acquisitions

According to Foresight News, Strategy (formerly MicroStrategy) announced that it had signed a sales agreement under which Strategy can issue and sell its 10.00% Series A permanent Stride preferred shares with a par value of US$0.001 per share and a total issue price of up to US$4.2 billion. The strategy is expected to sell STRD shares in a standardized manner as per the ATM plan for a longer period of time, taking into account the trading price and volume of STRD shares at the time of sale.


Strategy intends to use the net proceeds from the program for general corporate purposes, including the acquisition of Bitcoin and use as working capital, and may also use the net proceeds to pay dividends to holders of its 10.00% Series A Permanent Strife preferred shares ($0.001 per share) and 8.00% Series A Permanent Strike preferred shares ($0.001 per share).

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