MSTR Falls To $230 Despite Strategy’s Upsized Stock Offering
Strategy Inc. (NASDAQ:MSTR) announced an increase of a high-yield preferred offering to fund more Bitcoin (CRYPTO: BTC) purchases, but MSTR shares plunged to $230 as traders sold the news.
Strategy Prices €620M Preferred Stock Offering
The company announced it would issue 7.75 million shares of its 10.00% Series A Perpetual Stream Preferred Stock (STRE) at €80 ($92.60) per share.
Settlement is expected on Nov. 13, subject to customary closing conditions.
The sale will raise €620 million ($715 million) before costs, leaving about €609 million ($702 million) in net proceeds after underwriting fees and expenses.
Strategy said it plans to use the funds for general corporate purposes, including further Bitcoin acquisitions and working capital.
The preferred shares carry a 10% annual cumulative cash dividend, payable quarterly beginning Dec. 31, 2025.
If dividends are deferred, unpaid …
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