Strategy Discloses Pricing for Its $715M Perpetual Preferred Stock Offering
Strategy Inc. has officially priced its new Series A Perpetual Stream Preferred Stock, a significant capital-raising initiative aimed at bolstering its corporate and digital asset strategies.
Furedata - Strategy Inc. (November 7, 2025), has finalized the pricing for its inaugural public offering of 7.75 million shares. The 10.00% Series A Perpetual Stream Preferred Stock (STRE) was priced at €80.00 ($92.00) per share, with settlement anticipated by November 13, 2025, subject to standard closing procedures.
The company projects gross proceeds of approximately €620.0 million ($715.1 million). After deducting underwriting commissions and related expenses, net proceeds are estimated at €608.8 million ($702.2 million), based on a specific exchange rate from November 6, 2025, reported by Bloomberg.
Net capital raised is allocated for general corporate functions. This notably includes the acquisition of additional bitcoin and the reinforcement of the company’s working capital, which supports its ongoing operational and strategic objectives.
The STRE Stock is structured to yield 10.00% annual cumulative dividends, calculated on a stated value of €100 per share. These dividends are payable quarterly in cash, contingent upon declaration by the board of directors from legally permissible funds.
If a regular dividend payment is missed, compounded dividends will accrue on the overdue amount. This penalty rate starts at 11% annually and escalates by one percentage point each subsequent quarter until the arrears are paid, capped at 18% per year.
Strategy Inc. maintains the right to redeem the entire STRE Stock issuance for cash. This option can be exercised if the outstanding share count falls below 25% of the total amount originally issued or if specific tax-related events take place.
Holders of the stock are granted specific rights in the event of a "fundamental change," as outlined in the certificate of designations. Under such circumstances, they may require Strategy Inc. to repurchase their shares at a defined cash price.
The stock's liquidation preference, starting at €100, is designed to be dynamic. It adjusts daily to reflect the greatest of the stated amount, the most recent sale price, or the ten-day average trading price, thereby capturing current market conditions.
A syndicate of financial firms is overseeing the transaction as joint book-running managers. The group includes Barclays, Morgan Stanley, Moelis & Company, SG Americas Securities, TD Securities, Canaccord Genuity, and StoneX Financial.
This offering is made pursuant to an effective shelf registration statement filed with the U.S. Securities and Exchange Commission. Official documents are available on the SEC website or can be obtained from the listed financial managers.
Sales of the STRE Stock to retail investors within the European Economic Area are prohibited. The offering is directed exclusively at "qualified investors" under the Prospectus Regulation, and no key information document for retail investors has been produced.
Similarly, this stock is not intended for retail investors in the United Kingdom. The offering is restricted to "qualified investors" and "relevant persons" as defined by UK law, and a UK-specific key information document has not been prepared.