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Strategy raises $544.5M selling MSTR stock, repurchases $25M of STRC

Strategy repurchased 288,930 shares of its STRC preferred stock for $25 million, and boosted its US dollar reserve to $3.75 billion as Bitcoin buys were absent from the July 20 to July 26 window.

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Strategy, the business intelligence firm with a large corporate Bitcoin treasury, raised $544.5 million by selling shares of its MSTR Class A common stock through an at-the-market offering between July 20 and July 26, while simultaneously buying back $25 million of its STRC preferred stock, Cointelegraph reports.

The preferred share repurchase involved 288,930 STRC shares, following a Form 8-K filing with the US Securities and Exchange Commission on Monday. Strategy also expanded its US dollar reserve to $3.75 billion as of July 26, up from $3.225 billion the prior week.

Cointelegraph adds that Strategy did not conduct any Bitcoin purchases or sales during the July 20 to July 26 period, leaving its Bitcoin holdings unchanged at 843,775 BTC, acquired at an average purchase price of $75,476 per Bitcoin.

The outlet says the growing cash reserve supports obligations tied to preferred dividends and interest payments on the company’s outstanding debt, as Strategy continues to adjust its capital structure through common stock offerings and preferred instruments.

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