An Oct. 19 filing by Strategy Inc reported $193.1 million in preferred-stock repurchases during Oct. 12-18 and an expanded $3 billion authorization, alongside a $22.1 million Bitcoin (BTC) purchase.
Strategy acquired 1,938,780 shares of its Variable Rate Series A Perpetual Stretch Preferred Stock (STRC) for $193.1 million. It also bought 267 BTC at an average of $82,900 per coin, including fees and expenses. The filing put Strategy’s holdings at 848,517 BTC as of Oct. 18, acquired for $64.02 billion in total, or about $75,446 per coin.
Strategy sold 140,872 Class A common shares for $22 million in net proceeds to fund most of the Bitcoin purchase. The remaining $0.1 million came from USD Cash, which also covered the entire STRC repurchase. The filing showed $447.3 million in USD Cash on Oct. 18 and a separate $4.83 billion USD Reserve designated for preferred dividends and debt interest.
The filing also reported that the board expanded the repurchase authorization for Strategy’s digital credit securities from $2 billion to $3 billion. After accounting for the higher limit, $1.16 billion remained available as of Oct. 18. The program covers preferred securities beyond STRC. Strategy says buying preferred shares below their stated amounts may reduce future dividend costs and benefit common shareholders.
Strategy’s Oct. 12 disclosure reported a 250 BTC purchase in the preceding week and buybacks of 1,932,145 STRC shares for $192.4 million. EconoTimes covered those transactions in its earlier weekly update on Strategy’s Bitcoin purchase and STRC buyback.
Shareholders are scheduled to vote Oct. 28 at 10 a.m. ET on amendments that would allow daily dividend record dates. Strategy has conditionally declared daily STRC dividends for November; they require shareholder approval and an amended STRC certificate filed and effective by 12:01 a.m. ET Nov. 1.
