FILINGStrategy (MSTR) · 8-K · accepted Friday, Jul 25, 2025, 8:04 AM ET
Strategy priced an underwritten IPO of 28,011,111 shares of STRC preferred stock at $90 per share (settling
From Strategy’s 8-K, accepted by the SEC on Jul 25, 2025 at 8:04 AM ET.
What it says
Strategy priced an underwritten IPO of 28,011,111 shares of STRC preferred stock at $90 per share (settling July 29, 2025) with estimated net proceeds of about $2.474B and an initial 9.00% monthly dividend rate.
The numbers
| Preferred stated amount · STRC | $100 | as of Jul 25 |
What it changed
mNAV
1.99xJul 24 close
1.96xJul 25 close
Enterprise value (diluted market value plus debt and preferreds, minus cash) ÷ bitcoin held
Sats per diluted share
192,108Jul 24 close
192,108Jul 25 close
Bitcoin per diluted share × 100 million
Years of preferred dividends covered
220.2 yrsJul 24 close
218.8 yrsJul 25 close
Bitcoin and cash ÷ a year of preferred dividends at current rates (note interest not included yet)
Also that day
Source
Form 8-K filed by Strategy Inc with the SEC, accepted Friday, Jul 25, 2025, 8:04 AM ET. Accession 0001193125-25-164852.
Summary and figures read from the filing by Orange Paper’s filing reader and checked before publishing. Calculations (pro forma and close figures) are ours.