Strategy Stock Issues $2.8?billion 9% 'Stretch' Shares

Strategy MSTR just priced $2.8 billion of its new 9% Stretch preferred stock at $90 a share to fund more Bitcoin (BTC-USD) purchases after strong demand upsized the deal from $500 million.

Michael Saylor's firm has regularly tapped markets with shares, debt and previous prefs like Stride, which sold 2.5 million shares at $100 for $1 billion at a 10% yield in June.

Stretch adds to MSTR's roughly 600,000 BTC hoard valued near $70 billion while offering flexible monthly dividends that can rise or fall to keep the stock near para tool that gives MSTR more price control but leaves investors guessing on yield.

Why it matters: These creative capital raises fuel MSTR's Bitcoin buildup but hinge on appetite for variable?income securities and clear deployment plans.