Strategy (MSTR) has priced the initial public offering of 28,011,111 shares of its Variable Rate Series A Perpetual Stretch Preferred Stock (STRC) at $90 per share, raising approximately $2.47 billion in net proceeds, according to a press release. Settlement is expected on July 29.
STRC will accrue cumulative dividends at a variable annual rate on a $100 stated amount per share, with an initial monthly regular dividend rate of 9.00% per annum, payable monthly in arrears beginning August 31. Strategy retains the right to adjust the dividend rate for future periods, subject to restrictions limiting cuts to no more than 25 basis points plus any excess one-month SOFR spread and prohibiting reductions below the prevailing SOFR rate or if prior dividends remain unpaid.
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5x oversubscribed Thats wild. Clearly theres strong appetite for yield especially at 9% monthly. MSTR is playing this game smart raise cash, pay Bitcoin repeat. Lets see if STRC becomes the blueprint for future BTC-backed instruments.
... at 9% monthly?
Yes but can change at the will of MSTR
Did I get that wrong? Isn’t it per year?
The overall return is 9% per year paid out monthly. So if you buy one share at $100 you will earn $9 per annum to be paid out $0.75 monthly for 12 months
That’s how I understood it, but Macoy31 wasn’t saying that, was he?
I think Macoy31 is an AI chat bot looking to milk sats. That is why he is outlawed. His responses have no flair
Yeah, I’d already noticed. I tried getting him to reply, but no luck! It’s a manual bot... hahaha. Looks like the ghost items got replaced by an AI bot items.
Haha wow you guys really hate it when someone tries to post something with actual thought. 😆
If Macoy31 is an AI maybe you should get trained too so your replies might actually make some sense for once.
You are stacking sats just by trolling and somehow you are the ones annoyed 😂
Now if the price goes up or down due to trading on the open market that is when the interest rate will change. And that my friend is the what we call the bond market.
Ah yes the legendary bond market explanation… straight out of a 2003 econ textbook. 😂
Thanks professor Next time baka ma explain mo rin kung bakit may AI sa Stacker pero walang EQ sa comment section. 😎
When listed on the market?
this?
Next week!
Great news!