Strategy plans to issue $4.2 billion in STRD shares to raise funds
BlockBeats News, July 7th, According to official sources, Strategy (Nasdaq stock code: MSTR, STRK, STRF, STRD) announced today that it has signed a sales agreement to issue 10.00% Series A Perpetual Preferred Stock (referred to as "STRD Stock") with a par value of $0.001 per share, raising up to $4.2 billion through an At-The-Market (ATM) offering.
Strategy stated that the company plans to execute this ATM offering over an extended period of time based on the market trading price and volume of the STRD Stock. The proceeds are intended for general corporate purposes, including Bitcoin asset allocation, working capital, and payment of dividends to other preferred stockholders (involving 10.00% Series A Perpetual Preferred Stock and 8.00% Series A Perpetual Preferred Stock).
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