TLDR:
- Strategy filed with the SEC for an initial public offering of euro-denominated preferred stock under the 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 compounding increases if unpaid.
- The proceeds from the STRE stock will support Bitcoin acquisitions and bolster corporate liquidity.
The strategy extends its Bitcoin games into Europe. The company has applied to issue a preference share in euros aimed at raising new capital for Bitcoin purchases.
The move introduces a new avenue for institutional investors to join its crypto strategy. It also signals a stronger international push as the company expands its finance model. The announcement marks the first time the company has priced a share in euros.
New Euro-denominated offering aimed at global investors
According to a archiving with the US 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 has a stated amount of €100 and pays quarterly dividends in cash. The the annual dividend rate is set at 10%, with an additional 1% compounded for unpaid dividends, for a maximum of 18% per annum.
The company said the proceeds will go towards general business use and Bitcoin accumulation. The offering will be conducted under an effective shelf registration with the SEC, allowing for future flexibility in issuance.
Barclays, Morgan StanleyMoelis & Company and other major banks will act as joint bookrunners for the deal.
As shared by cryptoanalyst MartyParty on X (formerly Twitter), the STRE stock represents the company’s first euro-denominated financial instrument. The move could attract interest from European investors seeking exposure to Bitcoin-linked assets without directly holding crypto.
Distribution conditions and redemption information
The filing specified that regular dividends will be paid quarterly on March 31, June 30, September 30 and December 31, beginning December 2025.
If not paid, compound dividends will accrue quarterly. The strategy retains the option to redeem all STRE shares if less than 25% remains outstanding or certain tax events occur.
If a fundamental change occurs, investors can request repurchases at cash value plus accumulated dividends. The liquidation preference starts at €100 per share and can be adjusted based on trading results. The mechanism enables price adjustment between issued and market-traded shares.
The company emphasized that the sale of STRE stock will be limited to qualified investors in the European Economic Area and the United Kingdom. No prospectus will be offered to retail buyers, in line with MiFID II and PRIIPs rules.
The strategy continues to position itself as one of the most aggressive corporate Bitcoin accumulators. The company already has over 226,000 BTC on its balance sheet. The latest filing reflects an ongoing effort to diversify funding sources for future purchases.
The euro-denominated preference share can provide new access to European liquidity pools. This can be another strategic tool to expand Bitcoin exposure while maintaining structured financial backing.
