Strategy Launches STRF (Strife), a New Perpetual Preferred Stock Offering

Strategy, the world's largest corporate holder of Bitcoin, on Tuesday announced the launch of STRF (Strife), a new perpetual preferred stock offering, available to institutional investors and select retail investors.

Strategy (NASDAQ:MSTR) announced the launch of STRF (Strife), a new perpetual preferred stock offering, available to institutional investors and select retail investors.

Announcing the launch of $STRF ("Strife") - new perpetual preferred stock offering - available to institutional investors and select non-institutional investors. For more information, click here. $MSTRhttps://t.co/YxNmogceGq

— Strategy (@Strategy) March 18, 2025

The company also revealed its plan to offer 5 million shares of Series A Perpetual Strife Preferred Stock in a public offering.

The preferred stock will carry a 10% annual fixed dividend rate, payable quarterly starting June 30, 2025. If dividends are not paid on schedule, they will compound at an initial rate of 11% per annum, increasing by 100 basis points each quarter up to a maximum of 18% annually until paid in full.

The initial liquidation preference will be $100 per share, with daily adjustments based on market prices and trading activity. Strategy maintains the right to redeem all shares if the outstanding amount falls below 25% of total shares issued or in case of certain tax events.

Morgan Stanley, Barclays Capital, Citigroup Global Markets and Moelis & Company are serving as joint book-running managers for the offering, which will be made through an effective shelf registration statement filed with the SEC.

Strategy had purchased 130 Bitcoin at an average price of $82,981 per token between March 10 and 16.