Strategy Launches Euro Preferred Stock to Fund Bitcoin Buying Spree

TLDR:

• Strategy filed with the SEC for an IPO of €-denominated preferred shares under ticker STRE.
• The new 10% Series A shares aim to attract European and institutional investors for Bitcoin expansion.
• Dividends will be paid quarterly in cash at a 10% annual rate, with compounded increases if unpaid.
• Proceeds from the STRE stock will support Bitcoin acquisitions and strengthen corporate liquidity.
  

Strategy is extending its Bitcoin play into Europe. The company has filed to issue a euro-denominated preferred stock aimed at raising new capital for Bitcoin purchases. 

The move introduces a fresh path for institutional investors to join its crypto strategy. It also signals a stronger international push as the company expands its treasury model. The filing marks the first time the firm has priced a stock in euros.

New Euro-Denominated Offering Targets Global Investors

According to a filing with the U.S. Securities and Exchange Commission, Strategy plans to offer 3.5 million shares of its 10.00% Series A Perpetual Stream Preferred Stock, trading under the ticker STRE. 

Each share carries a stated amount of €100 and pays quarterly dividends in cash. The annual dividend rate is set at 10%, with an additional 1% compounded for unpaid dividends, capped at 18% per year.

The company said proceeds will go toward general corporate use and Bitcoin accumulation. The offering will be conducted under an effective shelf registration with the SEC, allowing future flexibility in issuance. 

Barclays, Morgan Stanley, Moelis & Company, and other major banks will serve as joint bookrunners for the deal.

As shared by crypto analyst MartyParty on X (formerly Twitter), the STRE stock represents the company’s first euro-denominated financial instrument. The move could draw interest from European investors seeking exposure to Bitcoin-linked assets without directly holding crypto.

Dividend Terms and Redemption Details

The filing detailed that regular dividends will be paid quarterly on March 31, June 30, September 30, and December 31, beginning December 2025.

If unpaid, compounded dividends will accrue quarterly. Strategy retains the option to redeem all STRE shares if fewer than 25% remain outstanding or certain tax events occur.

If a fundamental change occurs, investors may request repurchase at cash value plus accumulated dividends. The liquidation preference will start at €100 per share and may adjust based on trading performance. The mechanism allows price alignment between issued and market-traded shares.

The firm emphasized that sales of STRE stock will be limited to qualified investors in the European Economic Area and the U.K. No prospectus will be offered to retail buyers, aligning with MiFID II and PRIIPs regulations.

Strategy continues to position itself as one of the most aggressive corporate Bitcoin accumulators. The company already holds over 226,000 BTC on its balance sheet. This latest filing reflects an ongoing effort to diversify funding sources for future purchases.

The euro-denominated preferred stock could open new access to European liquidity pools. This could be another strategic tool for expanding Bitcoin exposure while maintaining structured financial backing.

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