Editor's PiCK
"Strategy Expands Preferred Stock Issuance to $1 Billion for Additional Bitcoin Purchases"
Minseung Kang
Summary
- Strategy, led by Michael Saylor, reportedly expanded its preferred stock issuance from the previous $250 million to $1 billion to enable additional Bitcoin purchases.
- Strategy announced plans to raise approximately $979.7 million in net proceeds by offering 11,764,700 shares at $85 per share.
- The secured funds will be used not only for general corporate operations, but also for future Bitcoin acquisitions and to strengthen growth strategies.
Strategy, led by Michael Saylor, is reported to have significantly increased its issuance of preferred stock from the previous $250 million to $1 billion in order to secure funds for additional purchases of Bitcoin (BTC).
According to Coinpedia, a digital asset (cryptocurrency) specialty media outlet, on the 6th (local time), Strategy will offer 11,764,700 shares of '10% Series A Strid Preferred Stock' at $85 per share, and expects to secure approximately $979.7 million in net proceeds.
These funds are planned to be used not only for general corporate operating purposes but also to strengthen future Bitcoin acquisitions and growth strategies.
Minseung Kang
minriver@bloomingbit.ioBlockchain journalist | Writer of Trade Now & Altcoin Now, must-read content for investors.
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