MicroStrategy wants to raise up to US$2 billion through the sale of preferred stock, expanding its previously announced plan to sell US$42 billion worth of equity and debt.
The latest sale is expected to take place in the first quarter of 2025.
#MicroStrategy wants to raise up to $2 billion through the sale of preferred stock to fulfill its previously announced plan to raise $42 billion to fund #bitcoin purchases over three years.
According to a statement released Friday, the company is seeking to raise up to $2 billion through a publicly underwritten offering of one or more of its perpetual preferred shares. The preferred stock will rank senior to MicroStrategy's Class A common stock.
MicroStrategy is a business intelligence company founded by former CEO Michael Saylor, who has since started buying #cryptocurrencies during the bull market of the pandemic era, It has become the largest corporate holder of bitcoin. The company currently holds more than 145,000 #BTC , which is worth about $14 billion at current prices.
Over the past few years, MicroStrategy has implemented its bitcoin buying strategy through stock and bond issuances. In November, for example, the company completed a US$3 billion debt offering to buy bitcoin.
In October, MicroStrategy announced plans to issue US$21 billion worth of stocks and US$21 billion worth of bonds to support this bitcoin buying strategy.
As of Dec. 15, the company had approximately $7.65 billion of shares remaining available for sale.
MSTR shares that outperformed bitcoin in 2024 were added to the NASDAQ index in late December.
MicroStrategy's latest offering is expected to take place in Q1 2024. MicroStrategy's latest offering is expected to take place in Q1 2025, but is subject to market conditions and is subject to the company's discretion.
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