The strategy (MSTR) on Tuesday morning presented its last turn to raise funds from capital markets to finance additional purchases of Bitcoin (BTC), but there are indications that the Wall Street spike is slowing down.
The preferred actions of the company’s perpetual fight (Strf) offer a dividend in fixed annual cash of 10%, paid quarterly, according to a presentation of the SEC if dividends are not paid, they are aggravated to an additional 1%per year (quarterly), up to a maximum of 18%. The first dividend payment is scheduled for June 30, 2025.
The initial favorite series (STRK) of the strategy initially offered only an interest rate of 8%. And the series of convertible debts of the strategy came with insignificant interest rates or even 0% (product other than the favorite, of course).
Unlike common shares, Strf holders do not have voting rights, but have a priority in liquidation with a $ 100 liquidation preference per share. The strategy has the right to redeem Strf if there are less than 25% of the original actions or if fiscal events occur, while the holders may demand a repurchase in case of a fundamental change.
It is expected that Strf Cotice in Nasdaq within 30 days after the issuance, offering investors to exposure to Bitcoin with a high performance structure. Morgan Stanley, Barclays, Citigroup and Moelis & Company are joint managers for offer, made under a record of the sec.
After buying Bitcoin at a galloping rhythm in recent months, Strategy’s collection and tokens acquisitions have slowed down in recent weeks. The company last week made additional purchases of Bitcoin, but they were barely moving the needles, only 130 BTC for $ 10.7 million to take total holdings to 499,226 tokens.
MSTR is lower 5% in early action on Tuesday along with a slide in markets in general and Bitcoin fall at $ 81,300 of $ 84,000 per day ago.
