Strategy expands STRC offering twice in two weeks
The company continues to accumulate BTC through corporate equity and debt offerings, but class action lawsuits against Strategy are mounting.
Bitcoin (BTC) treasury company Strategy has expanded the scope its STRC offering twice since issuing the corporate security on July 22.
The company announced an at-the-market offering of up to $4.2 billion of its Variable Rate Series A Perpetual Stretch Preferred Stock (STRC), a hybrid corporate security, to purchase more BTC on Thursday.
STRC is a dividend-paying security with variable yields that has no set maturity date and can be called or redeemed by the company under specific conditions, making the terms of repayment flexible, according to Thursday’s announcement.
