Strategy announced a $4.2 billion STRD preferred stock issuance plan.
Golden Finance reported that Strategy announced on July 7 the signing of a sales agreement to issue a total value of up to $4.2 billion of 10.00% Series A perpetual Stride preferred stock (STRD Stock). The company plans to orderly sell these stocks over a longer period based on market trading prices and volume.
Strategy indicates that the funds obtained will primarily be used for Bitcoin acquisitions, operational funds, and paying dividends to existing preferred shareholders. The company has designated Bitcoin as its main reserve asset while continuing to offer AI-driven enterprise analytics software services.