Strategy Inc (Nasdaq: STRF/STRC/STRK/STRD/MSTR) has announced the pricing of its initial public offering on November 6, 2025, of 7,750,000 shares of 10.00% Series A Perpetual Stream Preferred Stock (the STRE Stock), at a public offering price of €80 per share. The issuance and sale of the STRE Stock is scheduled to settle on November 13, 2025, subject to customary closing conditions. Strategy’s gross proceeds to it from the offering will be approximately €620 million (or US$715.1 million) and Strategy estimates the net proceeds to it from the offering will be approximately €608.8 million (or US$702.2 million), after deducting the underwriting discounts and commissions and Strategy’s estimated offering expenses.
Latham & Watkins LLP represents Strategy in the offering with a cross-border team in Europe and the US led by partners David Rath, Roberto Luis Reyes Gaskin, James Inness, Greg Rodgers, Marc Jaffe, Brittany Ruiz, and Arash Aminian Baghai and counsel Camilla Kehler-Weiss, with associates Alexandre Maturana, Paul Lau, Andrew Bentz, Jennifer Thiessen, Kan Ni, and Rich Reynolds with assistance from Sam Vallejo. Advice was also provided on tax matters by partners Bora Bozkurt and Jocelyn Noll, with associate Michael Yu.
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