Wu learned that Strategy (formerly MicroStrategy) announced on July 21, 2025, plans to conduct an initial public offering of 5,000,000 shares of STRC variable interest rate Series A perpetual preferred stock under the Securities Act of 1933. The funds raised will be used for general corporate purposes, including purchasing Bitcoin and supplementing working capital. The initial annual dividend rate of this preferred stock is 9%, which the company can adjust monthly, but the adjustment range is limited.

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