Strategy Secures €620M Through Expanded Stream Preferred Stock Offering to Facilitate Bitcoin Acquisitions and Expansion

Billionaire Michael Saylor’s Strategy Inc. revealed on Friday that it has set the price for its initial public offering of 10% Series A Perpetual Stream Preferred Stock (STRE), generating gross proceeds of €620 million ($715 million).

Strategy announces pricing of its Stream Perpetual Preferred Stock ($STRE) Offering and increases the deal from €350 Million to €620 Million. $MSTR https://t.co/AyN67dQ1jy

— Michael Saylor (@saylor) November 7, 2025

The offering, which was originally targeted at €350 million, was expanded due to robust investor interest and is scheduled to close on November 13, 2025, subject to standard approvals.

€620 Million Raised to Fund Expansion and Bitcoin Purchases

The offering comprises 7.75 million shares priced at €80 each, yielding approximately €608.8 million (€702.2 million) in net proceeds after deducting fees and expenses. Strategy indicated that the capital will be allocated for general corporate purposes, including the acquisition of additional bitcoin and supporting its ongoing operational and growth strategies.

The announcement highlights Strategy’s sustained confidence in bitcoin as a reserve asset and as part of its comprehensive treasury management approach. The company has emerged as one of the largest corporate holders of bitcoin and continues to develop investment products centered around digital assets, positioning itself as a hybrid between a technology-driven financial entity and a bitcoin-centric organization.

10% Dividend With Quarterly Payouts

Each share of STRE offers a 10% annual dividend, which amounts to €10 per €100 of stated value, disbursed quarterly in cash on March 31, June 30, September 30, and December 31, commencing December 31, 2025.

If Strategy fails to make a payment, interest on the outstanding amount will compound quarterly, increasing by 1% each period up to a maximum rate of 18%.

This arrangement provides investors with a reliable, high-yield return while granting Strategy flexibility in case of cash flow timing challenges. The company also retains the right to redeem all shares at any point once less than 25% of the original issue remains or under specific tax-related conditions.

Investor Protections and Redemption Rights

In the case of a “fundamental change”—such as a merger, restructuring, or ownership alteration—holders of the STRE stock may request that Strategy repurchase their shares for €100 each, in addition to any unpaid dividends. Each share also possesses a liquidation preference of €100, ensuring that investors would receive that amount before common shareholders in the unlikely event of a liquidation.

The liquidation value is adjusted daily based on current market prices, ensuring that the preferred stock reflects fair value if actively traded.

Led by Top Global Banks

The offering is being overseen by a consortium of prominent financial institutions, including Barclays, Morgan Stanley, Moelis & Company, Société Générale, TD Securities, Canaccord Genuity, and StoneX Financial.

Their participation underscores strong institutional confidence in Strategy’s business model and its expanding role in bridging traditional finance with the digital asset sector.

By integrating traditional yield instruments with crypto-linked growth opportunities, Strategy’s latest initiative reinforces its dual identity as both a financial innovator and a leader in bitcoin-backed corporate finance.

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