Michael Saylor’s Strategy Expands Preferred Equity Sale To $2.47 Billion To Buy More Bitcoin

Strategy, the largest owner in the world of Bitcoin, has officially evaluated its initial public offer of 28,011,111 actions of the perpetuated privileged actions (STRC shares) of Serie A variables at $ 90 per share. The offer should generate around $ 2,474 billion of net proceeds, with an agreement scheduled for July 29, 2025.

The strategy confirmed that capital will be used “for general corporate purposes, including the acquisition of Bitcoin and for the circulating capital”.

This announcement follows the previous dissemination of last week’s strategy as regards the IPO Strc, which initially outlined an offer of 5 million shares. The company eventually expanded the size of the offer in response to a strong demand for investors.

The Stock Strc offers a variable monthly dividend, starting from an initial annualized rate of 9.00%, payable in cash and subject to monthly correction. While the strategy reserves the right to regulate this rate, the reductions are strictly limited by the diffusion limits based on the one month of Sofr rate. The company observed that its intent is to “maintain the trading price of Strc Ao near the declared amount of $ 100 per share”.

The compound dividends mature if the regular dividends are not paid and the strategy holds the reimbursement rights once the actions are listed on Nasdaq or Nyse. The stock can be redeemed to $ 101 per action, plus any unpaid dividends. Reimbursements of cleaning and correlated taxes are also allowed in specific conditions.

In the event of “fundamental change”, Strc shareholders can request the company to regain their actions at $ 100 per share more dividends accumulated.

The liquidation preference begins at $ 100 per action and will adapt daily to reflect the highest of three values: the declared amount, recent market prices or the average of 10 days.

This is good for the distribution plan of the overall capital of strategy, which focuses on the expansion of Bitcoin reserves. Just last week, the company revealed a purchase of 6,220 BTCs for ~ $ 740 million, pushing the participations of Bitcoin total at 607,770 BTC, evaluated correctly of over $ 74 billion.

Morgan Stanley, Barclays, Moelis & Company and TD Securities act as runners of joint books. The co-guesters include the reference company, Clear Street, Amerivet Securities, Bancroft Capital, Kefe, Bruyette & Woods and Maxim Group LLC.

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