Michael Saylor and the team at Strategy (MSTR) have officially expanded across the pond as they seek to tap new funding markets to acquire even more Bitcoin. BTC$100,231.58.
Strategy, the largest publicly traded company holding Bitcoin, has priced its initial public offering of 7.75 million 10% Series A perpetual stream preferred shares (STRE) at €80 per share.
The sale is expected to close on November 13, with total proceeds of approximately 620 million euros ($715 million) and will primarily see the company acquiring additional Bitcoin, according to a press release on Friday.
STRE shares carry an annual dividend of 10% on the official price of €100, payable quarterly from 31 December as declared by the Board of Directors. Unpaid dividends will accrue interest at an initial rate of 11% and increase by 1% each quarter until paid, up to a maximum of 18%.
Strategy already owns 641,205 Bitcoins worth about $64.1 billion at BTC’s current price of about $100,000. In addition to the recent decline in the price of Bitcoin, the premium that investors place on the value of Strategy’s common stock for Bitcoin is also rapidly shrinking.
This weakens the company’s ability to raise funds through the sale of common stock, making these preferred issuances the preferred vehicle if the company wants to continue accumulating BTC.
MSTR stock fell another 5.3% pre-market to just $225, and is now down about 50% from its 2025 peak in less than four months.
