Strategy Launches Third Bitcoin-Backed Preferred Stock STRD on Nasdaq
Strategy (MSTR) has launched trading of its new bitcoin-backed preferred stock, STRD, on the Nasdaq. The stock debuted with a slight increase of 0.24%.
Key points about STRD:
- 10% Series A Perpetual Stride Preferred Stock (STRD) offers a fixed annual dividend of 10%
- Highest yield among Strategy’s offerings, which include STRF and STRK
- Non-convertible and non-cumulative; dividends are paid only when declared
- Aims to raise nearly $1 billion by selling 11.76 million shares at $85 each
- Net proceeds expected to be approximately $979.7 million for corporate purposes and bitcoin accumulation
- Strong investor interest noted, with board member Jarrod Patten purchasing 5,000 STRD shares
For more information, see: Strategy Shifts Capital Raise to Preferred Stocks