Strategy Closes $2.52B STRC IPO, Acquires 21,021 Bitcoin At $117K Each

Benzinga·07/29/2025 20:39:55

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Strategy (NASDAQ:MSTR), formerly known as MicroStrategy, has completed a $2.52 billion initial public offering (IPO) of its STRC preferred stock and used the proceeds to purchase 21,021 Bitcoin at an average price of $117,256 per BTC, the company announced July 29.

The STRC stock offering, the largest U.S. IPO of 2025 to date, involved 28,011,111 shares of Variable Rate Series A Perpetual Stretch Preferred Stock, priced at $90 per share.

The stock is set to begin trading on the Nasdaq Global Select Market under the ticker symbol "STRC" starting July 30.

The Michael Saylor-led company netted approximately $2.474 billion after fees and offering expenses, and immediately deployed the funds into Bitcoin.

With the new purchase, the firm now holds 628,791 BTC, acquired at a total cost of $46.8 billion, averaging $73,227 per Bitcoin across all purchases to date.

Also Read: Ethereum Treasuries Could Soon Own 10% Of All ETH: Standard Chartered

The STRC offering marks multiple firsts: it is the first U.S.-listed perpetual preferred security from a Bitcoin treasury company and the first to pay monthly dividends using a board-determined rate policy.

It also introduces a new short-duration, income-oriented structure aimed at broadening access to yield-focused investors.

Strategy now offers four Nasdaq-listed securities (MSTR, STRK, STRF, STRD), with STRC as its latest addition, reinforcing its capital markets strategy to raise funds for direct Bitcoin acquisition.

The offering was led by Morgan Stanley, Barclays, Moelis & Company and TD Securities, among others.

The company has continued to position itself as the world's first Bitcoin Treasury Company, using a combination of equity, debt and operational cash flows to build and expand its Bitcoin holdings while offering investors different risk profiles through structured financial instruments.

Photo: Shutterstock

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