Strategy raises $700M via euro-denominated preferred stock offering

Strategy has announced the pricing of its initial public offering of 7.75 million shares of euro-denominated perpetual preferred stock (STRE) at €80 per share. The issuance and sale of the STRE shares are scheduled to close on Nov. 13. The company anticipates net proceeds of €610 million ($700 million) from the offering, which it plans to use for Bitcoin purchases and general operating expenses.