Michael Saylor and the Strategy (MSTR) team have officially expanded across the pond as they look to tap into new funding markets in their quest to acquire even more bitcoin. .
Strategy, the largest publicly traded company and bitcoin holder, priced its initial public offering of 7.75 million shares of 10% Series A Perpetual Flow Preferred Stock (STRE) at €80 per share.
The sale, which is expected to close on Nov. 13, will generate approximately €620 million ($715 million) in gross proceeds, according to a Friday press release, with the company primarily acquiring additional bitcoins.
STRE shares receive an annual dividend of 10% on their declared value of €100, payable quarterly from December 31, when declared by the board. Unpaid dividends will accrue an initial interest of 11%, increasing by 1% quarterly to 18% until paid.
Strategy already owns 641,205 bitcoins worth approximately $64.1 billion at the current BTC price of about $100,000. In addition to recent declines in the price of bitcoin, the premium at which investors price Strategy’s common stock to the value of its bitcoin has been contracting rapidly.
This limits the company’s ability to raise money through the sale of common stock, making these preferred issues a preferred avenue should the company want to continue accumulating BTC.
MSTR shares are down another 5.3% premarket to just $225, now down roughly 50% since hitting their 2025 high less than four months ago.
