MicroStrategy completes IPO of 11.8M shares of 10% Series A Perpetual Stride Preferred Stock (STRD)

Strategy Inc

Issued 11,764,700 shares of STRD Stock; dividends non-cumulative at 10% on $100 stated amount payable quarterly.
Liquidation preference initially $100 per share, adjusts based on future sale prices of STRD shares.
Redemption at Strategy's option if outstanding shares fall below 25% of original; tax-event redemption also allowed.
Holders have voting rights on charter amendments, business combinations, and other matters.

Key facts

Extracted from this filing and checked against the source text.

Governance Changes SEC 8-K Item 5.03/5.05/5.06 confidence 0.9

Strategy Inc: Filed a Certificate of Designations to establish the terms of a new series of preferred stock, the 10.00% Series A Perpetual Stride Preferred Stock (STRD Stock) (effective 2025-06-10).

Change: charter amendment
Effective: 2025-06-10

Exact text from the filing

On June 10, 2025, MicroStrategy Incorporated ® d/b/a Strategy TM (“Strategy”) completed an initial public offering (the “Offering”) registered under the Securities Act of 1933, as amended (the “Securities Act”), of 11,764,700 shares of a new class of its capital stock titled “10.00% Series A Perpetual Stride Preferred Stock” (the “STRD Stock”). In connection with this issuance of STRD Stock, Strategy filed a Certificate of Designations (the “Certificate of Designations”) with the Secretary of State of the State of Delaware designating an aggregate of 11,764,700 shares of, and establishing the terms of, the STRD Stock.

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Strategy Inc filing history →

Source: SEC EDGAR

accession 0001193125-25-138477

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