Investor appetite for hybrid asset-backed securities is strengthening as institutions blend traditional financial structures with digital asset exposure. Strategy Inc. (Nasdaq: STRF/STRC/STRK/STRD/MSTR) announced on Nov. 3 that it plans an initial public offering (IPO) of 3.5 million shares of its euro-denominated 10% Series A Perpetual Stream Preferred Stock (STRE), registered under the U.S. Securities Act of 1933.

The move reflects Strategy’s continuing expansion of its bitcoin-based capital allocation model, which has positioned the company as a bellwether for digital asset integration within corporate finance. The announcement states:

Strategy intends to use the net proceeds from the offering for general corporate purposes, including the acquisition of bitcoin and for working capital.

The STRE shares will offer a 10% annual dividend, payable quarterly beginning Dec. 31, 2025, with compounded interest on deferred dividends that can rise to a maximum of 18% per year. The firm retains redemption rights under defined conditions, while investors can request repurchase in the event of a “fundamental change.”

Barclays Bank Plc, Morgan Stanley & Co. International Plc, Moelis & Company LLC, SG Americas Securities LLC, TD Securities (USA) LLC, Canaccord Genuity Ltd., and Stonex Financial Inc. are serving as joint book-running managers. The offering is open only to institutional investors within the European Economic Area and the United Kingdom, with retail participation prohibited.

Reinforcing its bitcoin-first strategy, Strategy Inc. is intensifying accumulation efforts to maintain its dominance as the world’s largest corporate holder of BTC. The company revealed on Nov. 3 that it had acquired 397 BTC for approximately $45.6 million at an average price of $114,771 per bitcoin during the week ending Nov. 2. Analysts view the simultaneous stock issuance and bitcoin accumulation as a coordinated effort to strengthen the firm’s capital structure while deepening exposure to digital assets, further linking traditional equity instruments to cryptocurrency market performance.

• What is Strategy’s new securities offering?
  Strategy is launching a euro-denominated 10% Series A Perpetual Stream Preferred Stock to blend institutional-grade income with bitcoin exposure.
• How will Strategy use proceeds from the offering?
  The proceeds will fund general corporate purposes, including further bitcoin acquisitions to expand its digital asset holdings.
• What is the dividend structure for the STRE shares?
  The shares will pay a 10% annual dividend, compounding up to 18% if deferred, with quarterly payments beginning in December 2025.
• Why is Strategy increasing its bitcoin holdings?
  The firm continues to reinforce its position as the world’s largest corporate holder of bitcoin to drive yield and capital appreciation tied to crypto market growth.

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