Michael Saylor and his team at Strategy (MSTR) have officially expanded across the Atlantic as they look to tap into new funding markets in their quest to acquire even more bitcoin. .
Strategy, the largest publicly traded company holding bitcoin, has priced its IPO of 7.75 million shares of Series A 10% Perpetual Flow Preferred Stock (STRE) at €80 per share.
The sale, which is expected to be finalized on November 13, will generate approximately 620 million euros ($715 million) in gross proceeds, according to a press release on Friday, with which the company will mainly acquire additional bitcoins.
STRE shares carry an annual dividend of 10% on its declared value of €100, payable quarterly from December 31, once declared by the board of directors. Unpaid dividends will bear interest at an initial rate of 11%, increasing by 1% quarterly up to 18% until paid.
Strategy already holds 641,205 bitcoins worth around $64.1 billion at the current BTC price of around $100,000. In addition to the recent decline in bitcoin’s price, the premium at which investors value Strategy’s common stock relative to the value of its bitcoin has rapidly contracted.
This limits the company’s ability to raise funds through the sale of common stock, making these preferred issuances a preferred route if the company wishes to continue accumulating BTC.
MSTR shares are still down 5.3% premarket at just $225, now down about 50% since their 2025 high less than four months ago.
