secwatch.observer — SEC 8-K summary
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Issuer:     Strategy Inc (MSTR)
CIK:        0001050446
Form:       8-K
Filed at:   2025-11-13T23:59:59+00:00
Accession:  0001193125-25-280178
Event type: other_material
Sentiment:  neutral
Materiality: 0.70
Item codes: 3.03, 5.03, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

Strategy Inc raises ~€620M via 10.00% Series A Perpetual Stream Preferred Stock IPO
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- Issued 7,750,000 shares of STRE Stock at €100 stated amount per share.
- Gross proceeds of approximately €620M ($716.8M); net proceeds ~€608.8M ($703.9M).
- Cumulative dividends at 10% per annum, compounded at increasing rates if unpaid, up to 18%.
- Company may redeem all shares if less than 25% remain outstanding; holders have fundamental change repurchase rights.
- Liquidation preference per share adjusts daily based on trading prices and sale transactions.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1050446/000119312525280178/0001193125-25-280178-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1050446/000119312525280178/d205736d8k.htm
  HTML page:      https://secwatch.observer/filing/0001193125-25-280178

License: Source filings: public domain (SEC EDGAR). Summaries (headline + bullets): CC-BY-4.0; attribute https://secwatch.observer