MicroStrategy（以前為MicroStrategy）創始人Michael Saylor願意支付美元股息

隨著比特幣（BTC）的價格下跌，以策略的平均購買價格（以前為Microstrategy），創始人邁克爾·賽勒（Michael Saylor）願意支付美元的股息

As bitcoin (BTC) price declines towards the average purchase price at Strategy (formerly MicroStrategy), founder Michael Saylor is willing to pay up to 18% USD dividends per year to access more capital.

隨著比特幣（BTC）的價格下降了戰略平均購買價格（以前為MicroStrategy），創始人邁克爾·塞勒（Michael Saylor）願意每年支付高達18％的股息以獲取更多資本。

In an announcement, Strategy is offering 5 million new shares with $100 of liquidation preference and limited conversion rights into MSTR common shares.

在公告中，策略將提供500萬股清算優先股的新股，並將其轉換為有限的MSTR普通股。

Liquidation preference is the right to receive money in the event of a “liquidity” (payout) event such as an acquisition, public offering, or dividend.

清算優先是在“流動性”（支出）活動（例如收購，公開募股或股息）中獲得資金的權利。

Instead of convertibility at a $1,000 strike price per MSTR share which is a marquee feature of Strategy’s STRK preferred shares, Saylor is simply focused on paying cash to entice investment in his new STRF preferred shares.

Saylor並沒有以每次MSTR股票的1,000美元打擊價格兌換，而是Stratege preferred股票的商標功能，而是專注於支付現金來吸引其新的STRF優先股的投資。

Strategy is upping its dividend rate from STRK’s 8% rate. Instead, STRF holders will enjoy a 10% fixed dividend in USD that increases to a maximum of 18% annually if the company becomes late on payments. Dividends are payable every fiscal quarter.

策略正在從Strk的8％率中提高其股息利率。取而代之的是，如果公司延遲付款，則Strf持有人將享有10％的固定股息，每年最多增加18％。股息應在每個會計季度支付。

The STRF ticker symbol evokes the “strife” of paying cash every three months rather than the aspirational “strike” price of $1,000 hinted at by the STRK ticker symbol.

Strf股票符號喚起了每三個月支付現金的“衝突”，而不是由Strk Ticker符號暗示的1,000美元的理想“打擊”價格。

Neither class has voting rights and both have mid-capital stack seniority for liquidation rights: above common MSTR yet below debtholders

兩家班級都沒有投票權，並且都有中期資本堆棧的清算權利：高於常見的MST，但低於debthorters

Read More: Michael Saylor’s Bitcoin Announcements No Longer Seem To Pump MSTR Stock

閱讀更多：邁克爾·賽勒（Michael Saylor）的比特幣公告似乎不再吸引MSTR庫存

STRF Further Increases The Cash Burden On Strategy

STRF進一步增加了戰略的現金負擔

If the company successfully sells its intended 5 million shares of STRF, its first dividend is due on June 30. Of course, the company has some discretion to not pay dividends, yet unpaid dividends compound and increase by 100 basis points (1%) per quarter up to a maximum annual rate of 18%.

如果該公司成功出售其預期的500萬股Strf股票，則其首次股息將於6月30日到期。當然，該公司有一些酌處權不支付股息，但無償股息複合，每季度每季度提高100個基點（1％），最高年度最高年利率為18％。

Hopefully, BTC’s price increases enough — or Strategy invents new debt or corporate offerings to raise the USD — to service those dividend payments.

希望BTC的價格能夠提高足夠的價格 - 或戰略會發明新的債務或公司產品來提高美元，以服務這些股息付款。

Although STRF doesn’t have the aspirational strike price of its predecessor, it does have a less important redemption feature. In addition to tax code-related redeemability events, if less than 25% of the shares become outstanding (i.e. circulating publicly), Strategy may choose to redeem all shares for cash to clean up its capital stack.

儘管STRF沒有其前任的理想打擊價格，但它確實具有不太重要的贖回功能。除了與稅法相關的兌現性事件之外，如果股份的股份中少於25％（即公開流通），戰略可能會選擇兌換所有現金以清理其資本堆棧。

Little has changed on the news in today’s Nasdaq session. Shares of MSTR are trading about 2% lower after the news. That mirrors a similar, 1.8% decline in bitcoin’s price today. Morgan Stanley, Citi, Barclays, and Moelis are leading the STRF preferred share offering.

在今天的納斯達克會議上，新聞的變化很小。新聞後，MSTR的股票交易低約2％。這反映了類似的比特幣價格下降1.8％。摩根士丹利（Morgan Stanley），花旗（Citi），巴克萊（Barclays）和穆里斯（Moelis）領導著STRF首選分享產品。

Got a tip? Send us an email or ProtonMail. For more informed news, follow us on X, Instagram, Bluesky, and Google News, or subscribe to our YouTube channel.

有小費嗎？給我們發送電子郵件或質子郵件。有關更多知情的新聞，請在X，Instagram，Bluesky和Google News上關注我們，或訂閱我們的YouTube頻道。