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Sujha Sundararajan
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Sujha Sundararajan
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Michael Saylor’s BTC firm, Strategy, plans to offer a Euro-denominated credit instrument under the symbol STRE. The company plans an initial public offering (IPO) of 3,500,000 shares of its 10.00% Series A Perpetual Preferred Stock.
The net proceeds from the offering will be used for general corporate purposes, including the purchase of Bitcoin, the company statement read
Saylor noted that the STRE would target European and global institutional investors.
IPO STRE plans come with their own add-ons Bitcoin buy on monday. The software-intelligent company announced the purchase of 397 BTC between October 27 and November 2, for a total of $45.6 million in cash.
Additionally, Saylor sparked a Bitcoin frenzy with his bold, cryptic November tip. “Orange is the color of November”, he wrote to his 4.6 million followers on X.
Here’s what STRE Actions would bring
According to the official statement, STRE’s shares will bring €100 per share and will accumulate cumulative dividends at 10.00% per year.
In addition, dividends will be paid in cash quarterly, starting on December 31, 2025, if declared by its board of directors.
Preferred stock also includes specific sections for dividend and compounding deferrals. Regular unpaid dividends will be compounded quarterly initially at an annual rate equal to 10%, up to 18% annually.
The strategy retained redemption rights when STRE shares in circulation are below 25% of the original issue.
“The liquidation preference of the STRE Stock will initially be €100 per share,” the announcement read. Barclays, Morgan Stanley, Moelis & Company and others will act as joint book-running managers.
The BTC buying strategy shows no signs of slowing down
The largest corporate holder of Bitcoin with 641,205 BTC worth $67.67 billion in stash, has been steadily buying up Bitcoin, reflecting Saylor’s relentless commitment to buying BTC regardless of market conditions.
The introduction of $STRE aims to assist Strategy in the purchase of Bitcoin continuously without the need to sell common stock, attracting institutional investors who seek to enter the BTC market.
