Strategy Raises $1 Billion via STRD Stock Offering to Fund Bitcoin Purchases

Technology company Strategy has secured a significant $979.7 million through the sale of 11.76 million shares of its 10% Series A Perpetual Stride Preferred Stock (STRD). This follows an initial offering targeted at $250 million, fueled by strong investor demand. The STRD stock will settle on June 10 after standard closing conditions are met. 979.7 million is the estimated net proceeds from the offering, with this funding being primarily allocated towards Bitcoin purchases. 11.76 million shares of STRD were priced at $85 each. Previously, Strategy has acquired 4,020 BTC for $427.1 million between May 19 and May 25.