Strategy STRC Falls Below $99, Cash Reserves Drop to Approximately $871 Million
05/29 09:40
On May 29, STRC fell to a low of $97.11 before recovering to close at $98.57. There is ongoing scrutiny regarding Strategy's ability to issue this preferred security as a financing tool through ATM. After repurchasing $1.5 billion in convertible debt, Strategy's cash reserves have decreased to approximately $871 million, which can only cover its expected $1.7 billion annual preferred dividend obligations for about 6 months. Strive's perpetual preferred security SATA remains close to its $100 par value, supported by an approximately 13% dividend yield and the company's plan to introduce daily dividend support. (CoinDesk)
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