Core Insights - Strategy (MSTR) has launched a new euro-denominated perpetual preferred security named Stream (STRE) shortly after reporting Q3 earnings and indicating plans for an international perpetual preferred stock [1] Group 1: Security Details - STRE will be issued at 100 euros ($115) per share with a 10% annual dividend payable quarterly in cash, targeting professional and institutional investors in the European Economic Area (EEA) [2] - If dividends are unpaid, they will compound quarterly, with the rate increasing by 100 basis points per period up to a maximum of 18% [3] - STRE ranks senior to STRK, STRD, and MSTR common stock but junior to STRF, STRC, and debt, and is non-callable except under adverse tax circumstances or if less than 25% of shares remain outstanding [4] Group 2: Financial Implications - Proceeds from the issuance will support bitcoin (BTC) acquisitions and general corporate purposes, and the security carries no voting rights [5]