Strategy raises $2.52 billion in its 2025 IPO to buy 21,021 BTC

Strategy, widely regarded as the leading Bitcoin Treasury Company, announced completion of an IPO that secured roughly $2.52 billion, which it promptly deployed to purchase 21,021 bitcoins at a total outlay of about $2.46 billion. According to a press release shared by Business Wire the preferred shares, designated STRC, were priced at $90 apiece and are set to list on the Nasdaq Global Select Market around July 30 under the ticker “STRC.” The firm sold 28,011,111 shares of its Variable Rate Series A Perpetual Stretch Preferred Stock at $90 per share. This offering ranks as the top U.S. IPO of 2025 to date and stands among the most substantial crypto-related deals in recent memory. Trading for STRC should commence on July 30, 2025. Total capital raised was approximately $2.521 billion. After accounting for underwriting fees, commissions, and transaction expenses, net proceeds amounted to about $2.474 billion. Strategy allocated these funds to acquire 21,021 bitcoins at an average of roughly $117,256 each. Strategy expands holdings to 628,791 BTC The move increased its aggregate bitcoin holdings to about 628,791 coins as of July 29, 2025, representing an overall investment of around $46.8 billion and an average cost basis of $73,227 per bitcoin, fees included. This transaction set several benchmarks. At $2.521 billion in gross proceeds, it is 2025’s leading U.S. IPO by proceeds and the most sizeable perpetual preferred stock issue in the U.S. since 2009. Once trading begins, STRC will become the first exchange‑listed perpetual preferred security from a Bitcoin Treasury Company to distribute monthly dividends under a board‑determined rate policy. It also marks Strategy’s inaugural short‑duration, income‑oriented offering, broadening options for investors seeking steady income streams. Joint bookrunners on the deal were Morgan Stanley, Barclays, Moelis & Company, and TD Securities. Co‑managers included The Benchmark Company, Clear Street, AmeriVet Securities, Bancroft Capital, Keefe, Bruyette & Woods, and Maxim Group LLC. Strategy’s STRC offers bond-like stability STRC acts like a short‑term bond while helping the company buy more Bitcoin. Each share pays a monthly dividend that adds up to about 9% per year, although the board can tweak that rate by a quarter‑percent up or down each month. To keep the share price near $100, the company sells new shares at $101 when demand is strong, pauses or pulls shares if prices dip below $99, and adjusts the dividend rate as needed. If the market worsens, shares can be sold back at $100; if it improves, the company can repurchase STRC to balance its finances, without issuing any extra common stock. Investors like the steady income and stability of STRC, especially compared with the dilution risk of a typical stock offering. Even with Bitcoin’s ups and downs, Strategy’s common shares stay above $406, and its other preferred shares trade around $111, $112, and $0.87. Cryptopolitan Academy: Want to grow your money in 2025? Learn how to do it with DeFi in our upcoming webclass. Save Your Spot

Source: Cryptopolitan