Strategy to Conduct Its First Public Stock Offering on the European Market
Strategy co-founder and chairman Michael Saylor announced that the company will focus on raising digital capital, strengthening its financial position, and maintaining strong relations with creditors and shareholders in Europe.
The offering will include 10% perpetual preferred shares, Series A Perpetual Stream, trading under the ticker STRE, with a nominal value of €100 ($115) per share.
These shares will pay annual dividends of 10% of par value, distributed quarterly, starting on December 31, 2025.
In the event of payment delays, the dividend rate will increase to 18% per year.
While the preferred shares do not carry voting rights, they rank above common stock in the company’s capital structure, giving holders priority in the event of liquidation.
The IPO will be managed by investment and financial groups Barclays and Morgan Stanley, and Strategy aims to raise approximately €350 million ($378 million).
Currently, the company holds 641,205 BTC, valued at roughly $68.39 billion, according to Bitcoin Treasuries (Bitbo).
However, last month S&P Global Ratings assigned Strategy’s stock a “junk” credit rating of “B-”, citing high capital concentration in bitcoin, shareholder dilution risks, low liquidity, and increasing dividend obligations on its preferred shares.
See also: "Ethereum’s Fusaka Upgrade Scheduled for December Release"
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