Strategy’s €100 euro STRE offering doubles initial target to $715 million, extends bitcoin funding pipeline
Strategy priced its €100 STRE preferred stock offering at $715 million, doubling its initial target to fund bitcoin acquisition.Summary
Nasdaq-listed Strategy priced its 10% Series A Perpetual Stream Preferred Stock (STRE) at €80 per share, raising gross proceeds of €620 million (approximately $715 million). This issuance, which more than doubled the initial 3.5 million-share target to 7.75 million shares, demonstrates strong investor demand for high-yield instruments linked to the company's bitcoin strategy. Each STRE share has a €100 stated value and pays quarterly dividends starting December 31, 2025, at a 10% annual rate, potentially rising to 18% if dividends are deferred. Proceeds are earmarked for general corporate purposes, including bitcoin acquisition and working capital, extending Strategy's layered capital framework designed to finance ongoing bitcoin accumulation without diluting common shareholders. This follows previous offerings like STRC, which raised $4.2 billion for bitcoin purchases. The news comes as Strategy reported a slowdown in bitcoin accumulation during the third quarter, though analysts view this as cyclical, expecting re-acceleration next year.
(Source：The Block)