Strategy's (MSTR) banker, Moelis & Co., has been in discussions with distressed-debt funds about swapping Strategy's beaten-down preferred shares for other securities, presenting the proposal as a win-win amid the ongoing crypto rout, Bloomberg reported Monday, citing people familiar with the matter.
Investors have been in talks with Moelis & Co. about exchanging their securities for other preferred shares at a discounted price, or common shares, which have dropped by about 75% in the past year, according to the report.
Strategy did not immediately respond to a request for comment by MT Newswires.
(Market Chatter news is derived from conversations with market professionals globally. This information is believed to be from reliable sources but may include rumor and speculation. Accuracy is not guaranteed.)
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