Strategy Repurchases $139M STRC Preferred Shares, Holds Bitcoin Steady

Strategy Inc., formerly MicroStrategy, made significant moves in September to reorganize its balance sheet. Over five days, from September 8 to 13, the company spent $139.3 million repurchasing its own Variable Rate Series A Perpetual Stretch Preferred Stock, ticker STRC.

The buyback program targeted shares trading below their par value of $100 and carried a 12% dividend rate. By retiring these shares at a discount, Strategy reduces its future dividend burden and cleans up its balance sheet.

The repurchases are part of the company's Digital Credit Securities Repurchase Program, which was recently expanded to a total authorization of $2 billion. With approximately $1.19 billion in remaining availability, Strategy has room to continue retiring expensive equity if STRC shares continue trading below par.