(RTTNews) – Strategy Inc (MSTR), a bitcoin treasury company, Friday announced that it is pricing its initial public offering of 7.75 million 10% Series A Perpetual Stream Preferred Stock or STRE stock at 80 EUR per share.
The issuance and sale of the STRE stock will settle on November 13.
The company expects net proceeds of around 608.8 million euro or $702.2 million and will be used towards working capital and general corporate purposes which includes the acquisition of bitcoin.
The stock will accumulate cumulative dividends at a rate of 10 percent per annum on the stated amount which is 100 euro per share of STRE stock. Regular dividends will also be payable solely in cash as and when declared by the company.
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