Strategy Repurchases Over 1.5M STRC Shares for $152M

Strategy, a company known for its complex capital structure, has completed another round of share buybacks. Over the past week ending August 30, Strategy repurchased approximately 1.55 million shares of its Variable Rate Series A Perpetual Stretch Preferred Stock (STRC) at an average price of $97.48 per share.

The company funded this entire transaction through at-the-market sales of its common shares (MSTR), selling a total of 4.53 million shares and raising $602.8 million in the process. This amount not only covered the buyback but also left enough for Bitcoin purchases, dividend payments, and other expenses.

Strategy allocated $369.7 million from these proceeds towards buying more BTC and making dividend payments, adding 4,603 BTC to its existing holdings during this period. Following the repurchase, the company now has a total liquidity pool of around $6.71 billion, with $1.61 billion in USD cash and a separate USD Reserve of $5.10 billion.

The preferred stock being retired carries a variable rate, which means its dividend cost to Strategy fluctuates. By buying these shares back below par, the company locks in an accounting gain while eliminating future variable dividend obligations.