Bringing Strategy's preferred shares back to $100 is key to restarting Strategy's capital engine, the bank said, with repeated management actions expected to support both preferred and common shareholders.

Bringing Strategy's preferred shares back to $100 is key to restarting Strategy's capital engine, the bank said, with repeated management actions expected to support both…

Distressed-debt funds are negotiating to swap Strategy's preferred shares as STRC trades below par and annual dividend obligations near $1B.