Strategy Firm Led by Michael Saylor Raises $722 Million by Selling Perpetual Strife Series A Perpetual Preferred Shares (STRF)

The funds raised are planned to expand the company's Bitcoin

Strategy, the strategy firm led by Michael Saylor, has announced the closing of its offering of Perpetual Series A Preferred Shares (STRF) for total proceeds of $722.5 million.

The company had previously announced an offering of 5 million shares at a price of $90 to $100 per share, aiming to raise $500 million. However, it has since increased the offering size and adjusted the price per share to $85.

The preferred shares will pay an annual dividend of 10%, which is higher than the previously disclosed 9% to 9.75% range. These dividends are cumulative and paid quarterly, and they may accrue depending on the time of issue.

The shares are also subject to price adjustments every business day, taking into account various factors such as the amount declared and the current trading price. This provides flexibility and attractive profit potential for investors.

The shares do not have a conversion feature into common shares but have an initial liquidation preference of $100 per share.

Since 2020, Strategy has been focusing on acquiring Bitcoin (BTC) using corporate funds as part of an ambitious plan known as 21/21 to raise $42 billion over three years for this purpose.

Of this, $21 billion will come from equities and another $21 billion from fixed-income securities. Saylor’s bullish vision towards cryptocurrencies, particularly Bitcoin (BTC), has been instrumental in the company's endeavors.

Strategy’s efforts have led to the accumulation of nearly 2.4% of the total global Bitcoin (BTC) supply since October 2024.

The company plans to continue buying Bitcoin (BTC) on a regular basis, aiming to make new acquisitions at least twice a month.

With the newly raised funds, Strategy is expected to accelerate Bitcoin (BTC) purchases and strengthen its position in the market.

The company also retains the right to redeem all shares if the number outstanding falls below 25% of the total shares originally issued, or in certain cases related to tax events.

Overall, with an aggressive strategy and efficient fund management, Strategy under the leadership of Michael Saylor continues to solidify its presence as a major player in the cryptocurrency industry.

This latest fundraising not only showcases investor confidence in the company’s vision but also strengthens the foundation for continued growth in Bitcoin (BTC) ownership.