Strategy plans to issue 5 million shares of STRC to raise funds for Bitcoin acquisition

Odaily News According to an official announcement, Strategy (NASDAQ: MSTR, STRK, STRF, STRD) announced plans to issue 5 million shares of variable rate Series A perpetual preferred stock (STRC stock) for the first time. The company said the proceeds will be used for general corporate purposes, especially Bitcoin acquisitions and working capital.
STRC shares will initially pay a 9.00% annual dividend, payable monthly, and the company reserves the right to adjust the dividend rate. Morgan Stanley, Barclays, Moelis Company and TD Securities will serve as joint book-running managers for the offering.