Strategy prices new STRE preferred shares to fund Bitcoin accumulation
The company continues to offer corporate debt securities and equities to finance its Bitcoin acquisitions despite recent troubles.
Crypto treasury company Strategy is moving forward with its plan to expand Bitcoin holdings, pricing a new euro-denominated perpetual preferred stock designed to fund additional crypto purchases.
The company said on Friday that its Series A Perpetual Stream Preferred Stock (STRE) will debut at 80 euros ($92.50) per share, raising an estimated 608.8 million euros in net proceeds. Strategy plans to use the funds to buy more Bitcoin (BTC) and for general corporate purposes. The stock offering is expected to settle on Nov. 13.
The new STRE shares are senior to Strategy’s Perpetual Strike (STRK), Perpetual Stride (STRD) and common stock, but are subordinate to its Perpetual Strife (STRF), Variable Rate Perpetual Stretch (STRC) shares and outstanding debt.
