MicroStrategy Expands Preferred Stock Issuance to Purchase Bitcoin…"Expected to Raise $560 Million"
Minseung Kang
Summary
- MicroStrategy announced that it is expanding the scale of preferred stock issuance to purchase additional Bitcoin.
- It is expected to raise about $563.4 million through this issuance, significantly exceeding the initial plan.
- The funds raised are planned to be used for additional Bitcoin purchases and general operating expenses.
MicroStrategy (MSTR), the world's largest Bitcoin (BTC) holding company, is expanding its preferred stock issuance to secure funds for additional Bitcoin purchases.
On the 31st, MicroStrategy announced through its official channel, "MicroStrategy plans to issue 7.3 million shares of preferred stock at a public offering price of $80," stating, "The issuance is expected to raise approximately $563.4 million." This amount significantly exceeds the initially planned $250 million.
This preferred stock issuance is scheduled to close on the 5th of next month. MicroStrategy explained, "The funds raised will be used for additional Bitcoin (BTC) purchases and general operating expenses."
Minseung Kang
minriver@bloomingbit.ioBlockchain journalist | Writer of Trade Now & Altcoin Now, must-read content for investors.
