Strategy Executives Acquire Newly Issued Preferred Stock

According to Odaily, several insiders at Strategy, formerly known as MicroStrategy, have purchased the company's newly issued preferred stock. Among the executives involved are CEO Phong Le, CFO Andrew Kang, and General Counsel Wei-Ming Shao. Phong Le acquired 6,000 shares at $85 each, while Andrew Kang bought 1,500 shares, and Wei-Ming Shao purchased 500 shares. Strategy had previously announced the issuance of 5 million shares of Series A Perpetual Preferred Stock, with a face value of $100 per share. The company aims to raise $500 million to support its Bitcoin strategy. However, the issuance was later increased to 8.5 million shares, with the price per share adjusted to $85.