Strategy announces new preferred stock to fund bitcoin acquisition.

Strategy announces public offering of 5 million Strife Series A perpetual preferred shares to fund bitcoin acquisition and corporate needs.

Strategy has announced plans to issue Series A perpetual preferred shares in a public offering. The company plans to issue 5 million shares with an annual dividend of 10%. The proceeds from the offering will be used for #bitcoin purchases and general corporate purposes. The new shares will be paid quarterly. In case of delayed payment, dividends will be charged at a progressive rate, reaching 18% per annum. Strategy has the right to repurchase all outstanding shares if less than 25% of the originally issued shares remain or upon the occurrence of certain tax events. The redemption price will be based on the liquidation value plus any unpaid dividends. If there is a material change, such as a major restructuring, holders will have the right to request redemption of their shares at a price that includes any accrued and unpaid dividends. Liquidation preference per share is initially set at $100 and will be adjusted daily based on trading prices and recent transactions. The offering will be led by Morgan Stanley, Barclays, Citigroup and Moelis and Company, and shares will be sold in an SEC-registered offering. Read us at: Compass Investments