Strategy unveils ‘Stride’ stock to fuel fixed-income expansion, boost Bitcoin holdings
The post Strategy unveils ‘Stride’ stock to fuel fixed-income expansion, boost Bitcoin holdings appeared on BitcoinEthereumNews.com. Strategy revealed on June 2 that it will offer 2.5 million shares of its 10% Series A Perpetual Stride Preferred Stock, branded “STRD,” to acquire more Bitcoin (BTC). The STRD security carries a $100 initial liquidation preference and pays non-cumulative cash dividends at 10% a year when Strategy’s board declares them. Strategy intends to use net proceeds for general corporate activities, including Bitcoin purchases and working capital. Barclays, Morgan Stanley, Moelis & Company, and TD Securities will run the books, with The Benchmark Company, AmeriVet Securities, Bancroft Capital, BTIG, and Keefe, Bruyette & Woods acting as co-managers. Dylan LeClair, head of Bitcoin strategy at Metaplanet, said the new offer is Strife (STRF) “without all of the protections in place.” He added: “Non-cumulative, non-mandatory dividends, junior to $STRF. $STRF = Investment Grade $STRD = Junk Grade Saylor is coming for the entire fixed-income market.” STRF is another preferred stock from Strategy, announced on March 18, which offers 10% dividends and is overcollateralized by Bitcoin. Details of STRD Regular distributions, if approved, will be made quarterly on March 31, June 30, Sept. 30, and Dec. 31, starting with the quarter ending Sept. 30, 2025. Since the dividends are non-cumulative, Strategy will have no obligation to pay missed quarters. The liquidation preference resets daily to the highest of three figures: the original $100, the prior-day closing price, or the ten-day average closing price, preserving the principal for holders if the stock trades above par. Redemption terms allow Strategy to call all outstanding STRD shares for cash if total issuance falls below 25% of the aggregate shares sold in this and any future STRD offerings. The STRD offering also permits a full redemption upon certain tax events. The redemption price equals the prevailing liquidation preference plus any declared but unpaid cash dividends through, but…
The post Strategy unveils ‘Stride’ stock to fuel fixed-income expansion, boost Bitcoin holdings appeared on BitcoinEthereumNews.com.
Strategy revealed on June 2 that it will offer 2.5 million shares of its 10% Series A Perpetual Stride Preferred Stock, branded “STRD,” to acquire more Bitcoin (BTC). The STRD security carries a $100 initial liquidation preference and pays non-cumulative cash dividends at 10% a year when Strategy’s board declares them. Strategy intends to use net proceeds for general corporate activities, including Bitcoin purchases and working capital. Barclays, Morgan Stanley, Moelis & Company, and TD Securities will run the books, with The Benchmark Company, AmeriVet Securities, Bancroft Capital, BTIG, and Keefe, Bruyette & Woods acting as co-managers. Dylan LeClair, head of Bitcoin strategy at Metaplanet, said the new offer is Strife (STRF) “without all of the protections in place.” He added: “Non-cumulative, non-mandatory dividends, junior to $STRF. $STRF = Investment Grade $STRD = Junk Grade Saylor is coming for the entire fixed-income market.” STRF is another preferred stock from Strategy, announced on March 18, which offers 10% dividends and is overcollateralized by Bitcoin. Details of STRD Regular distributions, if approved, will be made quarterly on March 31, June 30, Sept. 30, and Dec. 31, starting with the quarter ending Sept. 30, 2025. Since the dividends are non-cumulative, Strategy will have no obligation to pay missed quarters. The liquidation preference resets daily to the highest of three figures: the original $100, the prior-day closing price, or the ten-day average closing price, preserving the principal for holders if the stock trades above par. Redemption terms allow Strategy to call all outstanding STRD shares for cash if total issuance falls below 25% of the aggregate shares sold in this and any future STRD offerings. The STRD offering also permits a full redemption upon certain tax events. The redemption price equals the prevailing liquidation preference plus any declared but unpaid cash dividends through, but…
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