PreferredActiveBTC
7.00% Cumulative Convertible Preferred Stock
BSTR-Pref
$10.57▼ 0.14%
BTC Holdings
30,021 BTC
Total Debt
$608.80M
Leverage
22.0%
Notional
$78.30M
Issue date
2025-07-16
Price
$100.00
Insufficient history
Dividend / Share
$7/yr
Eff. Yield
7.00%
Insufficient history
Mkt Cap
$78.30M
Insufficient history
Shares Outs.
783,000
Conversion price
$13
ITM Status
OTM (-18.7%)
- Pending issuance — subject to Closing of CEPO/BSTR business combination (expected early Q2 2026)
- 300,000 shares ($30M) initial + ~483,000 shares (~$48.3M) August subscriptions
- Offering price $85.00 per share (15% discount to $100 face value)
- Perpetual / Non-redeemable by the Issuer
- Dividend payable in cash or common stock at Issuer's election at 98% of daily VWAP
Terms & Documentation
Terms
- BTC strategy
- Yes
- Settlement
- Shares
- Liquidation preference
- $100.00 per Preferred Share plus accumulated and unpaid dividends
- Cumulative
- Yes
- Payment frequency
- Quarterly
- Rate type
- Fixed
- Forced conversion
- After 5.0 years from Closing Date, at Issuer's election, if stock >= 130% of Conversion Price for 20/30 consecutive days, plus share Make-Whole
Outstanding History
Outstanding history(2)
| As of | Shares Outstanding |
|---|---|
| 2025-08-25 | 783,000 |
| 2025-07-16 | 300,000 |
- 2025-08-25 — 783,000 sharesForm 8-K (additional pref…
- 2025-07-16 — 300,000 sharesForm 8-K (business combin…