Strategy filed for a euro-denominated IPO to continue its Bitcoin purchases.
Strategy has filed a listing of 3.5 million preferred shares under the ticker STRE denominated in euros, with a cumulative quarterly dividend of 10% per annum of €100 (~$115).
The funds raised will be used to increase the Bitcoin (BTC) balance and for general corporate purposes.
STREs are intended for qualified investors in the EU and the UK. They are not intended for retail investors.
The underwriters of the securities are Barclays, Morgan Stanley, Moelis and TD Securities.
Related: Crypto Treasuries Face 'Challenging Times' Due to Premium Compression — NYDIG
Not a step back
Strategy currently holds 641,205 BTC, which it acquired for $47.49 billion. The day before, the corporation added 397 BTC to its Bitcoin reserves.
In a conference call with analysts following the release of quarterly results, the company's founder, Michael Saylor, said Strategy was unlikely to change its model.
“The focus is on selling digital loans, improving the balance sheet, buying Bitcoin, and communicating this to lenders and equity investors,” he said.
The entrepreneur ruled out Strategy acquiring its competitors, “even if it looks potentially profitable.”
Related: Crypto Treasury Firms' Challenges Open Up Opportunities — 10x Research
Source: cryptonews.net
