Michael Saylor’s Strategy Plans $250M IPO to Acquire Bitcoin and Fund Operations

Michael Saylor’s publicly traded firm, Strategy (Nasdaq: MSTR), has announced a plan for a $250 million initial public offering (IPO) of its 10.00% Series A perpetual Stride preferred stock (STRD). The proceeds will be used to fund general corporate purposes, with a significant portion allocated to purchasing Bitcoin and bolstering working capital. This IPO involves prominent investment banks like Barclays, Morgan Stanley, Moelis & Company, and TD Securities serving as joint book-running managers. Co-managers include The Benchmark Company, AmeriVet Securities, Bancroft Capital, BTIG, and Keefe, Bruyette & Woods.