Digital Executive Strategy to Acquire Company's New Preferred Stock

BlockBeats News, March 26th, according to a U.S. Securities and Exchange Commission filing, several insiders of Strategy (formerly MicroStrategy) bought its recently issued preferred stock, including the company's CEO, CFO, and other executives. Among them, CEO Phong Le purchased 6,000 shares of preferred stock at a price of $85, CFO Andrew Kang bought 1,500 shares, and Chief Legal Officer Wei-Ming Shao purchased 500 shares.

Strategy previously announced the issuance of 5 million shares of Series A Perpetual Strife Preferred Stock with a face value of $100 per share, aimed at raising $500 million in additional funds for implementing its Bitcoin strategy. However, the issuance was later increased to 8.5 million shares, and the price per share was reduced to $85. (Barron's)