Strategy Raises $711M in Upsized Preferred Stock Offering, Eyes More Bitcoin
Strategy (MSTR) is preparing for another major bitcoin acquisition after successfully pricing an upsized sale of its latest preferred stock issuance.
The company sold 8.5 million shares of its 10% Series A Perpetual Strife Preferred Stock at $85 per share, raising approximately $711.2 million—well above its initial $500 million target.
This new preferred stock series differs from the previous STRK issuance by offering a higher coupon rate (10% versus 8%) and lacking a common stock conversion option.
Strategy currently holds over 499,200 bitcoin, and this fresh capital infusion is expected to push its holdings beyond the 500,000 mark.
In premarket trading, MSTR shares are slightly down, hovering just below $300, while bitcoin remains stable at $84,000.
