Strategy announces proposed IPO of STRD stock

Strategy (MSTR) announced that, subject to market and other conditions, it intends to conduct an initial public offering registered under the Securities Act of 1933, as amended, of 2.5M shares of Strategy’s 10.00% Series A Perpetual Stride Preferred Stock, the “STRD Stock.” Strategy intends to use the net proceeds from the offering for general corporate purposes, including the acquisition of bitcoin and for working capital. Barclays, Morgan Stanley, Moelis & Company and TD Securities are acting as joint book-running managers for the offering. The Benchmark Company, AmeriVet Securities, Bancroft Capital, BTIG and Keefe, Bruyette & Woods are acting as co-managers for the offering.