PreferredActive$STRCBTC
Stretch
$128.64▼ 0.17%
BTC Holdings
766,970 BTC
Total Debt
$18.60B
Leverage
10.9%
mNAV
0.82x
Notional
$5.35B
Issue date
2025-08-03
Price
$100.00▲ 0.00%
Dividend / Share
$11.5/yr
Eff. Yield
11.50%
Mkt Cap
$5.35B
Shares Outs.
53,549,489
Market ClosedApr 12, 2026 20:14 UTC
- Non-convertible
Terms & Documentation
Terms
- BTC strategy
- Yes
- Ranking
- Junior to STRF; senior to STRE, STRK, STRD, and common stock; junior to all indebtedness
- Liquidation preference
- $100 per share initially; adjusts daily to greatest of: stated amount, last sale price if traded in prior 10 days, 10-day trailing average sale price
- Cumulative
- Yes
- Payment frequency
- Monthly
- Payment dates
- Last day
- Rate type
- Floating
- Rate reference
- Company-discretionary variable rate; adjusted monthly
- Call provision
- Redeemable at any time at $101 per share plus accumulated and unpaid dividends. Clean-up redemption if outstanding < 25% of total issued. Tax event redemption available.
- Put provision
- At repurchase price per certificate of designations upon fundamental change
- Use of proceeds
- General corporate purposes, including the acquisition of bitcoin and for working capital
Sources(2)
- STRETCH Preferred Stock T…WebsiteSTRETCH Preferred Stock TermsStrategy Inc. — 2026-02-03
- Form 8-K (STRC preferred …FilingForm 8-K (STRC preferred stock)Items 1.01/8.01Strategy Inc. — 2025-07-25
Participants
Holders & Underwriters(4)
- Form 8-K (STRC preferred …Morgan Stanley & Co. LLCunderwriteras of 2025-07-25Joint book-running manager
- Form 8-K (STRC preferred …Barclays Capital Inc.underwriteras of 2025-07-25Joint book-running manager
- Form 8-K (STRC preferred …Moelis & Company LLCunderwriteras of 2025-07-25Joint book-running manager
- Form 8-K (STRC preferred …TD Securities (USA) LLCunderwriteras of 2025-07-25Joint book-running manager
Outstanding History
Outstanding history(31)
| As of | Shares Outstanding | Source |
|---|---|---|
| 2026-04-05 | 53,549,489 | Form 8-K (ATM and BTC upd… |
| 2026-03-31 | 52,522,234 | Form 8-K (ATM and BTC upd… |
| 2026-03-15 | 50,246,262 | Weekly 8-K ATM Updates (2… |
| 2026-03-08 | 38,427,795 | Weekly 8-K ATM Updates (M… |
| 2026-03-01 | 34,651,590 | Weekly 8-K ATM Updates (M… |
| 2026-02-22 | 34,580,000 | Weekly 8-K ATM Updates (M… |
| 2026-02-16 | 34,580,000 | Weekly 8-K ATM Updates (M… |
| 2026-02-08 | 33,790,000 | Weekly 8-K ATM Updates (M… |
| 2026-02-01 | 33,790,000 | Weekly 8-K ATM Updates (M… |
| 2026-01-19 | 33,720,000 | Weekly 8-K ATM Updates (M… |
| 2026-01-11 | 30,770,000 | Weekly 8-K ATM Updates (M… |
| 2026-01-04 | 29,580,000 | Weekly 8-K ATM Updates (M… |
| 2025-12-31 | 29,580,000 | Weekly 8-K ATM Updates (M… |
| 2025-12-28 | 29,580,000 | Weekly 8-K ATM Updates (M… |
| 2025-12-21 | 29,580,000 | Weekly 8-K ATM Updates (M… |
| 2025-12-14 | 29,580,000 | Weekly 8-K ATM Updates (M… |
| 2025-12-07 | 29,580,000 | Weekly 8-K ATM Updates (M… |
| 2025-11-30 | 29,580,000 | Weekly 8-K ATM Updates (M… |
| 2025-11-16 | 29,580,000 | Weekly 8-K ATM Updates (M… |
| 2025-11-09 | 28,270,000 | Weekly 8-K ATM Updates (M… |
| 2025-11-02 | 28,000,000 | Weekly 8-K ATM Updates (M… |
| 2025-10-26 | 28,000,000 | Weekly 8-K ATM Updates (M… |
| 2025-10-19 | 28,000,000 | Weekly 8-K ATM Updates (M… |
| 2025-10-05 | 28,000,000 | Weekly 8-K ATM Updates (M… |
| 2025-09-21 | 28,000,000 | Weekly 8-K ATM Updates (M… |
| 2025-09-14 | 28,000,000 | Weekly 8-K ATM Updates (M… |
| 2025-09-07 | 28,000,000 | Weekly 8-K ATM Updates (M… |
| 2025-08-24 | 28,000,000 | Weekly 8-K ATM Updates (M… |
| 2025-08-17 | 28,000,000 | Weekly 8-K ATM Updates (M… |
| 2025-08-10 | 28,000,000 | Weekly 8-K ATM Updates (M… |
| 2025-08-03 | 28,000,000 | Weekly 8-K ATM Updates (M… |
- 2026-04-05 — 53,549,489 sharesForm 8-K (ATM and BTC upd…
- 2026-03-31 — 52,522,234 sharesForm 8-K (ATM and BTC upd…
- 2026-03-15 — 50,246,262 sharesWeekly 8-K ATM Updates (2…
- 2026-03-08 — 38,427,795 sharesWeekly 8-K ATM Updates (M…
- 2026-03-01 — 34,651,590 sharesWeekly 8-K ATM Updates (M…
- 2026-02-22 — 34,580,000 sharesWeekly 8-K ATM Updates (M…
- 2026-02-16 — 34,580,000 sharesWeekly 8-K ATM Updates (M…
- 2026-02-08 — 33,790,000 sharesWeekly 8-K ATM Updates (M…
- 2026-02-01 — 33,790,000 sharesWeekly 8-K ATM Updates (M…
- 2026-01-19 — 33,720,000 sharesWeekly 8-K ATM Updates (M…
- 2026-01-11 — 30,770,000 sharesWeekly 8-K ATM Updates (M…
- 2026-01-04 — 29,580,000 sharesWeekly 8-K ATM Updates (M…
- 2025-12-31 — 29,580,000 sharesWeekly 8-K ATM Updates (M…
- 2025-12-28 — 29,580,000 sharesWeekly 8-K ATM Updates (M…
- 2025-12-21 — 29,580,000 sharesWeekly 8-K ATM Updates (M…
- 2025-12-14 — 29,580,000 sharesWeekly 8-K ATM Updates (M…
- 2025-12-07 — 29,580,000 sharesWeekly 8-K ATM Updates (M…
- 2025-11-30 — 29,580,000 sharesWeekly 8-K ATM Updates (M…
- 2025-11-16 — 29,580,000 sharesWeekly 8-K ATM Updates (M…
- 2025-11-09 — 28,270,000 sharesWeekly 8-K ATM Updates (M…
- 2025-11-02 — 28,000,000 sharesWeekly 8-K ATM Updates (M…
- 2025-10-26 — 28,000,000 sharesWeekly 8-K ATM Updates (M…
- 2025-10-19 — 28,000,000 sharesWeekly 8-K ATM Updates (M…
- 2025-10-05 — 28,000,000 sharesWeekly 8-K ATM Updates (M…
- 2025-09-21 — 28,000,000 sharesWeekly 8-K ATM Updates (M…
- 2025-09-14 — 28,000,000 sharesWeekly 8-K ATM Updates (M…
- 2025-09-07 — 28,000,000 sharesWeekly 8-K ATM Updates (M…
- 2025-08-24 — 28,000,000 sharesWeekly 8-K ATM Updates (M…
- 2025-08-17 — 28,000,000 sharesWeekly 8-K ATM Updates (M…
- 2025-08-10 — 28,000,000 sharesWeekly 8-K ATM Updates (M…
- 2025-08-03 — 28,000,000 sharesWeekly 8-K ATM Updates (M…