8-K: Microstrategy Announces Completion of Strc Preferred Stock Offering

MicroStrategy completed a $2.521 billion initial public offering of Variable Rate Series A Perpetual Stretch Preferred Stock (STRC), marking the largest U.S. IPO in 2025. The company issued 28,011,111 STRC shares at $90 per share, with net proceeds of approximately $2.474 billion after deducting costs. The company immediately deployed the proceeds to purchase 21,021 bitcoins at an average price of $117,256 per bitcoin.The STRC Stock will pay monthly dividends at an initial rate of 9.00% per annum, with the company having discretion to adjust rates subject to certain restrictions. The stock has a $100 stated amount per share and ranks senior to common stock but junior to existing STRF Stock and company debt. Trading is expected to commence on Nasdaq Global Select Market under the symbol STRC.Following this acquisition, MicroStrategy's total bitcoin holdings reached approximately 628,791 bitcoins, acquired at an aggregate purchase price of $46.8 billion and an average price of $73,227 per bitcoin. The offering represents the first U.S. exchange-listed perpetual preferred security by a Bitcoin Treasury Company with monthly dividends.

MicroStrategy completed a $2.521 billion initial public offering of Variable Rate Series A Perpetual Stretch Preferred Stock (STRC), marking the largest U.S. IPO in 2025. The company issued 28,011,111 STRC shares at $90 per share, with net proceeds of approximately $2.474 billion after deducting costs. The company immediately deployed the proceeds to purchase 21,021 bitcoins at an average price of $117,256 per bitcoin.The STRC Stock will pay monthly dividends at an initial rate of 9.00% per annum, with the company having discretion to adjust rates subject to certain restrictions. The stock has a $100 stated amount per share and ranks senior to common stock but junior to existing STRF Stock and company debt. Trading is expected to commence on Nasdaq Global Select Market under the symbol STRC.Following this acquisition, MicroStrategy's total bitcoin holdings reached approximately 628,791 bitcoins, acquired at an aggregate purchase price of $46.8 billion and an average price of $73,227 per bitcoin. The offering represents the first U.S. exchange-listed perpetual preferred security by a Bitcoin Treasury Company with monthly dividends.