Strategy Reports $193 Million in STRC Preferred Stock Repurchases

Strategy spent $193.1 million repurchasing STRC preferred shares during Oct. 12–18, reducing outstanding shares that accrue dividends. The company also raised its preferred-stock buyback authorization to $3 billion, leaving $1.16 billion available for further repurchases.

Strategy Funds STRC Repurchases With Cash

The company bought back 1,938,780 STRC shares using its general-purpose dollar cash. Separately, it used $45.5 million from its designated dollar reserve to pay preferred-stock dividends.

Strategy reported reserve and general-purpose cash balances of $4.83 billion and $447.3 million, respectively, as of Oct. 18.

It distinguishes the reserve, intended for dividends and debt interest, from cash available for broader treasury purposes.

Strategy Raises Preferred Buyback Authorization to $3 Billion

The board increased the program’s aggregate authorization from $2 billion to $3 billion. After accounting for earlier purchases, $1.16 billion remained available as of Oct. 18.

The authorization covers cumulative spending, including fees and expenses. Strategy reported no repurchases of its other preferred-stock classes or common shares during the period.

STRC, also called Stretch, is variable-rate perpetual preferred stock. It has no scheduled maturity, and its dividend rate can change under the security’s terms. Holders receive a preferred equity claim rather than direct ownership of Strategy’s Bitcoin.

Strategy Adds 267 Bitcoin Through Common-Stock Sales

Strategy separately purchased 267 Bitcoin for $22.1 million, including fees and expenses. It funded those purchases with $22 million in net common-stock sale proceeds and $100,000 in cash.

The acquisition brought its holdings to 848,517 Bitcoin as of Oct. 18. Their aggregate acquisition cost was $64.02 billion, rather than their current market value.