So, Strategy—yes, the same company that’s giving Wall Street a run for its money—just pulled off a pretty spectacular stunt. They wrapped up an IPO of 28 million shares of their fancy Variable Rate Series A Perpetual Stretch Preferred Stock (try saying that three times fast) at a crisp $90 each. And lo and behold, they raked in a cool $2.52 billion—probably enough to buy a small country’s worth of Bitcoin, or at least enough to keep the crypto bros happy for a decade. 💸
This isn’t just your average IPO; it’s the biggest US offering of 2025 so far—larger than your wildest summer plans. After paying the usual underwriters, some hefty commissions, and various expenses, Strategy is sitting pretty with about $2.47 billion clean cash in hand. What to do? Well, they bought roughly 21,021 Bitcoin at an average price of $117,256—because apparently, they’re slightly overconfident about Bitcoin’s future. As of late July, they own a staggering 628,791 BTC. Yes, that’s a lot of zeros. 📈
Brace yourselves, because this isn’t just a cash splash; it’s the debut of a new trading darling on Nasdaq around July 30—under the equally charming ticker “STRC.” And get this: it’s the first perpetual preferred security of its kind issued by a Bitcoin Treasury company. Think of it as the lovechild of Wall Street and crypto, now with a monthly dividend policy that’s decided by… someone in a boardroom. Fancy, huh?
This new product isn’t just a pretty face; it’s a first—a short-term, income-focused wonder within Strategy’s lineup, and the biggest perpetual preferred stock issuance in the US since 2009. Morgan Stanley, Barclays, Moelis & Company, and TD Securities made sure this was a blockbuster, with a cast of co-managers—because why not have a book full of heavy hitters?
And let’s not forget: this IPO more than doubled the $1.1 billion that Circle managed to squeeze out in June. Talk about setting the bar high—maybe even a little too high—but hey, who’s judging?
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2025-07-30 09:07