Strategy, formerly known as MicroStrategy, has announced the pricing for its initial public offering of Series A Stride (STRD) shares at $85 per share. The company plans to issue nearly 11.8 million shares, which will allow it to raise approximately $979.7 million for further investments in Bitcoin and to strengthen its working capital. The deal is expected to close on June 10, 2025, pending the fulfillment of all standard closing conditions.
This is reported by Finway
Details of the Offering and STRD Characteristics
The price of one STRD share is $85, with a par (liquidation) value of $100. The yield per share is 10% per annum based on the par value, but dividends are not guaranteed and may be paid only at the discretion of the board of directors. If declared, payments will be made quarterly, starting September 30, 2025. Additionally, the par value of the shares may be adjusted daily according to the market price.
The company reserves the right to repurchase all STRD shares for cash if less than 25% of the initial volume remains or in the event of tax events. In the case of significant changes in the company’s operations, investors may demand the repurchase of their shares.
“STRD is a unique financial instrument that combines high yield with access to our Bitcoin-focused strategy,” the company’s official release states.
Deal Participants and Company Plans
The issuance is being organized by Barclays, Morgan Stanley, Moelis & Company, and TD Securities. Among the co-managers of the offering are also Benchmark Company, Clear Street, AmeriVet Securities, Bancroft Capital, Keefe, Bruyette & Woods, and BTIG.
Strategy has previously announced the issuance of 2.5 million STRD shares as part of the “42/42” initiative. This new round of capital raising aims to scale the company’s Bitcoin strategy and strengthen its position in the digital asset market.