Key dealers
- Strategy plans to raise approximately $ 711 million for Bitcoin acquisition and operating capital.
- The released preferred share offers 10.00% dividend rate and redemption right under certain conditions.
Strategy announced Today, pricing of 8.5 million shares of 10.00% series A Perpetual Strife preferred share to $ 85.00 per share, with decommissioning scheduled for March 25, 2025.
The company expects to raise approximately $ 711 million in the net profit after deduction for insurance discounts, commissions and estimated to offer expenses. The funds will be used for general business purposes, including Bitcoin acquisition and operating capital.
The preferred share will gather cumulative dividend at a fixed interest rate of 10.00% per year in the specified amount of $ 100 per share. Regular dividends will be paid quarterly in cash when the company’s board is explained, which begins June 30, 2025.
Morgan Stanley, Barclays Capital, Citigroup Global Markets and Moelis & Company LLC serve as a joint book manager for the offer. Amerive Securities, Bancroft Capital, Btig and Benchmark Company act as co -managers.
The liquidation preference will initially be $ 100 per share, with adjustments made after each working day based on various factors including the specified amount and the latest trading prices.
The company maintains redemption rights for all shares if the outstanding amount falls below 25% of the total shares, or in the event of certain tax events. Holders will have the right to demand that the company repurchase shares in the event of a fundamental change.