India, July 25 -- Strategy Inc. (MSTR), a life sciences business intelligence company, on Thursday priced its initial public offering of 28,011,111 shares of Variable Rate Series A Perpetual Stretch Preferred Stock at $90 per share, with settlement expected on July 29.
The company expects net proceeds of approximately $2.474 billion after deducting underwriting discounts and offering expenses. Proceeds will be used for general corporate purposes, including bitcoin acquisitions and working capital.
The STRC Stock will carry cumulative monthly dividends initially set at a 9.00% annual rate on a $100 stated amount.
The company has the discretion to adjust future dividend rates, within limits, to help maintain the stock's trading price near ...