Strategy Stretch Preferred Stock (Backpack Securities)STRC
Strategy Stretch Preferred Stock (Backpack Securities) (STRC) is a token tracking STRC shares, backed by dedicated collateral, issued by Backpack through Trek Nexus Markets Ltd, and distributed through Trek Nexus Markets Ltd with Atomic Vault Securities, LLC and RQD Clearing, LLC as broker. The underlying security is listed in the financials sector in North America. Each token entitles holders to dividends, which are reinvested into the token and carries no voting rights. The collateral assets are held by Trek Nexus Markets Ltd in segregated accounts within a bankruptcy-remote structure. Retail investors worldwide can mint and redeem directly with Backpack in underlying shares after completing KYC. Residents of the United States, the United Kingdom, the United Arab Emirates and other jurisdictions the issuer restricts cannot mint or redeem with Backpack. Trek Nexus Markets Ltd is incorporated in the British Virgin Islands and is offered under an SEC Regulation S exemption. STRC has been issued on Solana as a SPL Token-2022 token since June 2026.