Company Executes $2.52 Billion Initial Public Offering, Secures 21,021 Bitcoins for its Cash Reserves
In a groundbreaking move, Strategy, a leading financial company, has successfully completed a $2.52 billion initial public offering of its Variable Rate Series A Perpetual Stretch Preferred Stock (STRC). The offering, one of the largest U.S. equity offerings in recent periods, was priced at $90 per share for 28,011,111 shares.
The successful offering attracted participation from several prominent financial institutions, including Morgan Stanley, Barclays, Moelis & Company, TD Securities, The Benchmark Company, Clear Street, and other co-managers. These institutions served as joint bookrunning managers for the offering, demonstrating their confidence in Strategy's Bitcoin-focused strategy.
Strategy conducted its largest Bitcoin issuance through a stock offering in the USA, aiming to raise $500 million for buying Bitcoin and mining hardware. However, the company's Bitcoin acquisition significantly exceeded this target, reflecting strong institutional demand for Bitcoin exposure through traditional equity markets.
On July 29, 2025, the STRC stock settled. The offering has influenced other public companies to adopt similar Bitcoin accumulation models, though Strategy's holdings remain unmatched.
Strategy immediately deployed the proceeds to acquire 21,021 Bitcoin at an average price of $117,256 each. As a result, the company's Bitcoin holdings now total 628,791 BTC. In 2025 alone, Strategy raised $4.8 billion through Bitcoin-backed IPOs.
The STRC stock carries an initial monthly dividend rate of 9% per annum. Holders of the STRC stock have the right to require repurchase at stated value plus accumulated dividends if certain 'fundamental change' events occur. The dividend rate for the STRC stock can be adjusted monthly, subject to specific restrictions.
Moreover, the company's Bitcoin acquisition brought a substantial yield. Year-to-date in 2025, Strategy has achieved a 25% Bitcoin yield. The STRC stock has a variable liquidation preference that adjusts daily based on trading performance, initially set at $100 per share.
Strategy's Bitcoin acquisition demonstrates continued institutional appetite for Bitcoin exposure through corporate treasury strategies. The offering shows that Bitcoin is increasingly being viewed as a legitimate investment option by major financial institutions. This development is expected to further boost the popularity and acceptance of Bitcoin in the financial world.
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