Strategy Raises €620M in Upsized Stream Preferred Stock Offering to Support Bitcoin Purchases and Growth

Billionaire Michael Saylor’s Strategy ￰1￱ Friday that it has priced its initial public offering of 10% Series A Perpetual Stream Preferred Stock (STRE), raising gross proceeds of €620 million ($715 million). Strategy announces pricing of its Stream Perpetual Preferred Stock ($STRE) Offering and upsizes the deal from €350 Million to €620 Million. $MSTR ￰0￱ — Michael Saylor (@saylor) November 7, 2025 The offering, initially planned at €350 million, was upsized due to strong investor demand and is set to close on November 13, 2025, pending customary approvals. €620 Million Raised to Fund Expansion and Bitcoin Purchases The offering consists of 7.75 million shares priced at €80 each, bringing in approximately €608.8 million (€702.2 million) in net proceeds after fees and ￰2￱ stated that the funds will be used for general corporate purposes, including acquiring more bitcoin and supporting its ongoing operational and growth ￰3￱ announcement underscores Strategy’s continued confidence in bitcoin as a reserve asset and part of its broader treasury management ￰4￱ company has been one of the largest corporate holders of bitcoin and continues to build investment products around digital assets, positioning itself as a hybrid between a tech-driven financial firm and a bitcoin-focused enterprise. 10% Dividend With Quarterly Payouts Each share of STRE carries a 10% annual dividend, equivalent to €10 per €100 of stated value, paid quarterly in cash on March 31, June 30, September 30, and December 31, starting December 31, ￰5￱ Strategy misses a payment, interest on the unpaid amount compounds quarterly, increasing by 1% each period up to a maximum rate of 18%.

This structure provides investors with a stable, high-yield return, while allowing Strategy flexibility if cash flow timing issues ￰6￱ company can also redeem all shares at any time once less than 25% of the original issue remains or in the event of specific tax-related ￰7￱ Protections and Redemption Rights In the event of a “fundamental change”—such as a merger, restructuring, or ownership shift—holders of the STRE stock can request that Strategy buy back their shares for €100 each, plus any unpaid ￰8￱ share also has a liquidation preference of €100, meaning investors would be repaid that amount before common shareholders in the unlikely event of a ￰9￱ liquidation value adjusts daily based on recent market prices, ensuring that the preferred stock reflects fair value if actively ￰10￱ by Top Global Banks The offering is being managed by a group of leading financial institutions, including Barclays, Morgan Stanley, Moelis & Company, Société Générale, TD Securities, Canaccord Genuity, and StoneX ￰11￱ involvement highlights strong institutional confidence in Strategy’s business model and its growing role in connecting traditional finance with the digital asset ￰12￱ blending traditional yield instruments with crypto-linked growth potential, Strategy’s latest move reinforces its dual identity — as both a financial innovator and a pioneer in bitcoin-backed corporate finance.