5 million<\/a> to 8.5 million shares, now priced at $85 per share. The preferred stock will accumulate cumulative dividends at a fixed rate of 10.00% per annum in the stated amount of $100 per share.<\/p>\nMorgan Stanley, Barclays Capital, Citigroup Global Markets, and Moelis & Company are serving as joint book-running managers for the offering. AmeriVet Securities, Bancroft Capital, BTIG, and The Benchmark Company are acting as co-managers, according to the announcement.<\/p>\n
The liquidation preference will initially be $100 per share, with adjustments made after each business day based on various factors including the stated amount and recent trading prices.<\/p>\n
The company maintains redemption rights for all shares if the outstanding amount falls below 25% of the total shares originally issued, or in case of certain tax events. Holders will have the right to require the company to repurchase shares in the event of a fundamental change.<\/p>\n
The stock offering is a key component of Strategy\u2019s ambitious 21\/21 plan, which aims to raise $42 billion over three years\u2014$21 billion from equity and $21 billion from fixed-income securities\u2014to aggressively expand its Bitcoin holdings.<\/p>\n
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