Strategy Announces Euro-Denominated STRE Stock Offering for Bitcoin

Strategy Inc announced a proposed initial public offering of 3,500,000 shares of 10.00% Series A Perpetual Stream Preferred Stock on Nov. 3. The STRE Stock has a face value of €100 per share and pays cumulative dividends at a 10% annual rate. The company intends to use net proceeds for general corporate purposes, including the acquisition of bitcoin and for working capital, according to a press release. Strategy holds 641,205 Bitcoin as of Nov. 3. The company’s prospectus states it expects to fund any di ...