Strategy CEO, CFO and other senior executives purchase newly issued preferred shares of the company
ChainCatcher news, according to Barron's, three executives from Strategy took advantage of the company's recent preferred stock issuance opportunity to snap up shares priced low with a yield close to 12%.According to disclosures filed with the U.S. Securities and Exchange Commission, several insiders from Strategy (formerly MicroStrategy) purchased its latest issued preferred stock, including the company's CEO, CFO, and other executives. CEO Phong Le purchased 6,000 shares of preferred stock at a price of $85, CFO Andrew Kang bought 1,500 shares, and General Counsel Wei-Ming Shao acquired 500 shares.Strategy previously announced the issuance of 5 million Series A Perpetual Preferred Stock with a par value of $100 per share, which will raise $500 million in incremental funds to implement its Bitcoin strategy, but later increased the issuance to 8.5 million shares, with the price per share also lowered to $85.