Strategy Upsizes Stock Offering to $711M, Plans Bitcoin Buys
Strategy, has raised $711.2 million through an upsized preferred stock offering, significantly surpassing its initial $500 million target due to strong investor demand.
The company issued 8.5 million shares of 10.00% Series A Perpetual Strife Preferred Stock at $85 per share, with the sale expected to close on March 25. Net proceeds, after underwriting fees, total $711.2 million, with a substantial portion allocated for Bitcoin acquisitions.
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The preferred shares carry a 10% annual dividend, paid quarterly in cash. If a payment is missed, dividends will compound, increasing by 1% per quarter up to 18% per year. Strategy also retains the right to redeem shares under specific conditions, while holders can demand repurchase in cases of fundamental changes, like shifts in company control.
This marks Saylor’s second major capital raise in weeks. On March 17, the company disclosed a purchase of 130 BTC for $10.7 million using previous stock sale proceeds.
Committed to its Bitcoin treasury strategy since 2020, Strategy continues aggressive BTC accumulation while advancing AI-powered enterprise analytics tools.
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