Strategy insiders bought its newly launched preferred shares, including the company's CEO, CFO and other senior executives

Odaily Planet Daily News According to the documents disclosed by the U.S. Securities and Exchange Commission, several Strategy (formerly MicroStrategy) insiders bought its latest preferred stock, involving the company's CEO, CFO and other senior executives. Among them, CEO Phong Le bought 6,000 shares of preferred stock at a price of $85, CFO Andrew Kang bought 1,500 shares, and General Counsel Wei-Ming Shao bought 500 shares. Strategy previously announced that it would issue 5 million shares of Series A Perpetual Strife Preferred Stock with a par value of $100 per share. It will receive $500 million in incremental funds to implement its Bitcoin strategy, but then increased the issuance volume to 8.5 million shares and lowered the price per share to $85. (Barrons)