MicroStrategy Announces 2.5 Million Preferred Share Offering to Buy Bitcoin
MicroStrategy (MSTR) announced a preferred share offering of 2.5 million shares as part of its strategy to accumulate bitcoin (BTC). Key details include:
- The Series A Perpetual Preferred Stock (STRK) will have a $100 liquidation preference with cumulative dividends.
- MicroStrategy increased its bitcoin holdings for the 12th consecutive week, purchasing 10,107 BTC in the week ending January 26, raising total holdings to 471,107 BTC.
- The average purchase price for the recent acquisition was $105,596 per bitcoin, bringing the overall average purchase price to $64,511.
- On January 21, shareholders approved increasing authorized Class A common shares from 330 million to 10.3 billion.
- A mixed securities shelf registration has been filed, including debt securities, preferred stock, warrants, and depository shares alongside Class A common stock.