Last week, the self-proclaimed 😄 Bitcoin Treasury Management Company sold preferred shares — rare, debt securities with an 8% coupon — but had to please price-sensitive buyers by pricing them at a significant discount. The shares were sold at $80 a share, 20% below the market price, effectively increasing the yield for buyers to 10% — a significant concession to close the deal.

“I can’t remember the last time I saw something priced that low,” said James Dinsmore, a portfolio manager specializing in convertibles at Gabelli Funds Inc. “There was obviously some discontent with the initial price.
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Last week, the self-proclaimed 😄 Bitcoin Treasury Management Company sold preferred shares — rare, debt securities with an 8% coupon — but had to please price-sensitive buyers by pricing them at a significant discount. The shares were sold at $80 a share, 20% below the market price, effectively increasing the yield for buyers to 10% — a significant concession to close the deal.

“I can’t remember the last time I saw something priced that low,” said James Dinsmore, a portfolio manager specializing in convertibles at Gabelli Funds Inc. “There was obviously some discontent with the initial price.
”https://www.bloomberg.com/news/articles/2025-02-04/microstrategy-s-mstr-financial-gambit-hits-a-bump-with-new-stock-deal