Distressed Funds Explore Discounted Exchange of Strategy Preferred Stock Amid Bitcoin Selloff

BTC-0.86%
According to Bloomberg, distressed-asset investment funds holding Strategy preferred stock are exploring a discounted exchange of their positions for other preferred stock or common equity on July 7. The discussions with investment bank Moelis & Co. come as Bitcoin's sustained decline has pressured the company, which holds substantial Bitcoin holdings. If completed, any such transaction could be structured under SEC Rule 3(a)(9), which permits securities exchanges without formal SEC registration.
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