Business-intelligence firm Strategy said it has launched a $4.2 billion at-the-market offering for its 10% perpetual STRD preferred stock. The company plans to sell the shares gradually, citing market price and trading-volume considerations.
Strategy said net proceeds will be used for general corporate purposes, including the acquisition of additional Bitcoin and the payment of dividends on its Series A preferred shares. Executive Chairman Michael Saylor has repeatedly framed Bitcoin accumulation as a core component of the firm’s capital-allocation strategy.
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