Strategy is planning to list a new type of perpetual preferred stock, as the company led by Michael Saylor seeks to raise more funds to buy Bitcoin.

The firm, formally known as MicroStrategy Inc., is offering 2.5 million shares of 10% so-called Perpetual Stride preferred stock, according to a statement Monday. The offering consists of $250 million worth of shares at a price of $100 each, according to a person familiar with the matter.

Holders of the preferred stock will be entitled to non-cumulative dividends in cash at a rate equivalent to 10% per year, when declared by the company’s board or an authorized committee, subject to certain conditions, the statement shows. The deal is expected to price on Thursday, the person said, asking not to be identified as the information isn’t public.

The company’s common shares are up 0.8% to $375.2 each in after-market trading as of 7:19 p.m. on Monday. The shares have climbed 28.5% in the year to date.

The offering adds another variation on the fundraising strategy deployed by Strategy, which has issued common shares, convertible bonds and other instruments in order to keep buying Bitcoin. The company spent $40.7 billion in aggregate on 580,955 tokens as of June 1, according to a filing. Its holdings are worth about $61 billion at current prices.

Strategy’s STRD preferred stock will pay dividends quarterly beginning September 30, the announcement shows. It will have the right to redeem the shares for cash under certain conditions, and paying dividends is not mandatory, according to the announcement.

The STRD shares are senior only to Strategy’s common stock, the person said. They are junior to the perpetual strike shares, so-called perpetual strife shares and debt already issued by Strategy.

Barclays Plc, Morgan Stanley, Moelis & Co. and Toronto-Dominion Bank are leading the offering, the statement shows.