Strategy’s STRC Hits $100 Par for First Time Since May After Over $2 Billion in Buybacks
By Micah Zimmerman
AI summary of the source article
Strategy's STRC preferred stock reached its $100 par value for the first time since May, following over $2 billion in buybacks and rate adjustments, restoring the threshold to resume share issuances funding bitcoin purchases.
Why it matters
A Stretch at par lets Strategy pay those obligations with new preferred issuance rather than coins. A Stretch at $89 does not.
Key facts
- STRC touched $100 par value after Strategy retired roughly $2.25 billion of the stock since the discount emerged.
- Shareholders approved daily dividends on STRC and three other preferreds on Oct. 28 with a 99.3% vote.
- Reaching $100 restores the price at which Strategy can resume issuing new shares to fund bitcoin purchases instead of selling coins.
Source excerpt · Bitcoin Magazine
Bitcoin Magazine Strategy’s STRC Hits $100 Par for First Time Since May After Over $2 Billion in Buybacks Strategy’s STRC preferred hit $100 par on Wednesday for the first time since May, after billions in buybacks, a 12% dividend rate and a switch to daily payouts. This post Strategy’s STRC Hits $100 Par for First Time Since May After Over $2 Billion in Buybacks first appeared on Bitcoin Magazine…