Strategy Raises $711M for Bitcoin Purchases Through Stock Offering

Strategy (MSTR) plans to make significant bitcoin purchases following a successful preferred stock sale.

• Sold 8.5 million shares of 10% Series A Perpetual Strife Preferred Stock at $85 each
• Raised approximately $711.2 million, exceeding the initial target of $500 million
• The new preferred stock features a higher coupon rate of 10% and lacks a common share conversion provision
• MSTR shares are slightly down, trading just under $300
• Bitcoin price remains steady at $84,000