TechFlow news, July 22 — According to an official announcement, Strategy (Nasdaq: MSTR, STRK, STRF, STRD) today announced plans to offer 5 million shares of its Variable Rate Series A Perpetual Preferred Stock (STRC stock) in an initial public offering. The company stated that the proceeds will be used for general corporate purposes, particularly for Bitcoin acquisitions and operating capital.
The STRC stock will have an initial annual dividend rate of 9.00%, payable monthly, and the company reserves the right to adjust the dividend rate. Morgan Stanley, Barclays, Moelis & Company, and TD Securities will act as joint book-running managers for the offering.
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