Strategy sold shares of its common stock, ticker MSTR, to raise $544.5 million. The company used $25 million of that to buy back its own preferred stock, STRC, and expanded its US dollar reserve to $3.75 billion.
Stock sale and preferred buyback
The sale of MSTR shares brought in more than half a billion dollars. Strategy then spent a fraction of that — $25 million — to repurchase shares of its STRC preferred stock. The moves come as the company continues to adjust its capital structure.
Cash reserve grows to $3.75 billion
After the transactions, Strategy's US dollar reserve now stands at $3.75 billion. That's a significant cash pile for a company that has been known for its large Bitcoin holdings, though the facts provided do not mention any Bitcoin activity in this round of financing.
The company has not announced any further plans for the remaining cash. With $3.75 billion in dollar reserves, Strategy has plenty of firepower for future acquisitions, investments, or debt repayment. Investors will be watching for the next quarterly report to see how the company deploys that capital.
