Strategy Plans $1B Stock Offering to Increase Bitcoin Holdings
- Strategy, led by Michael Saylor, aims to raise nearly $1 billion through a stock offering for more Bitcoin purchases.
- The company will issue 11,764,700 shares of 10.00% Series A Perpetual Stride Preferred Stock at $85 per share.
- Net proceeds are estimated at approximately $979.7 million after expenses.
- The funds will be used for general corporate purposes, including acquiring Bitcoin and working capital.
- This move significantly increases the previously announced $250 million raise and offers a new financing route beyond common stock and convertible debt.
Strategy’s ambitious plan to raise nearly $1 billion aims to bolster its Bitcoin holdings significantly. The funds will support general corporate activities and increase its cryptocurrency reserves.
Source (3.5)https://cointelegraph.com/news/saylor-s-strategy-upsizes-stock-offering-from-250m-to-1b?utm_source=rss_feed&utm_medium=rss_tag_bitcoin&utm_campaign=rss_partner_inbound&rand=50490
