Strategy is issuing new euro-denominated preferred stock to fund further Bitcoin purchases, priced at 80 euros per share, raising an estimated 608.8 million euros. The offering is senior to existing shares but subordinate to others. Retail investors in the EU and UK are excluded. Strategy slowed acquisitions in October amid market downturn.

Despite revenue decline in Q3 and a B- credit rating from S&P, Strategy is not expected to liquidate BTC holdings or face insolvency during the next bear market. Analyst Willy Woo believes the company’s manageable debt maturities reduce the risk of forced liquidation. S&P warned of the risk posed by Strategy’s concentrated BTC holdings.

S&P criticized Strategy for being too focused on BTC without diversifying, but the company is not likely to liquidate its holdings or go bankrupt during the next bear market. Woo believes the company’s manageable debt maturities reduce the risk of forced liquidation. Strategy’s stock has been declining since July.

Read more at Cointelegraph.: Strategy Reveals Pricing for Latest Preferred Stock Offering