Strategy (formerly Microstrategy), the company led by Michael Saylor, has just started the quotation in Nasdaq of its third “preferred stock”Backed by Bitcoin (BTC), under the Strd symbol
This instrument, Designed for investors looking for a fixed income with BTC supportoffers a nominal profitability of 10 %, payable in a quarterly manner, although dividends are non -cumulative and non -mandatory, which means that the company is not obliged to compensate omitted payments.
STRD was initially issued at a price of 85 USD per share. About 11.8 million shares were placed, raising around 980 million dollars.
These preferred values are subordinately structured in the face of previous emissions Strf (10 %) and Strk (8 %), which implies greater risk and, therefore, greater performance to compensate for investors.
With this strategy, the headlines benefit from the coverage of assets, since Strategy possesses – as cryptootics reported – 582,000 BTC, which represents a coverage of approximately six to one in front of the debt and preferential actions.
