Bitcoin treasury company Strategy will further lean on its preferred stock sales to acquire Bitcoin, shifting from its strategy of selling common stock, says CEO Phong Le.
“We will start to transition from equity capital to preferred capital,” Le told Bloomberg’s “The Close” on Wednesday.
Stretch (STRC) is Strategy’s perpetual preferred stock, launched in July, and is aimed at buyers looking for stability by offering an annual dividend of over 11%.
STRC is the company’s fourth perpetual preferred offering, launched to finance its Bitcoin (BTC) purchases. It’s an alternative to issuing new shares that dilute its stock price.
Le admitted that its preferred stock will “take some…
more
Source cointelegraph.com
FTC: We use income earning affiliate links. More on Sposored links.
Terms of use and third-party services. More here.
Terms of use and third-party services. More here.