Bitcoin Acquisition: Saylor Raises $711 Million

Strategy to Raise $711 Million for Bitcoin Acquisition

• Strategy plans to raise approximately $711 million through a preferred stock offering.
• The offering involves ‘Series A Perpetual Strife Preferred Stock’ priced at $85 per share.
• The preferred stock offers a fixed dividend rate of 10.00% annually.
• Morgan Stanley, Barclays Capital, and Citigroup Global Markets are among the joint managers.
• Redemption rights apply if outstanding shares fall below 25% of the original issue.

Strategy, led by Michael Saylor, is set to expand its Bitcoin reserves with funds raised from a $711 million preferred stock offering, featuring a 10.00% annual dividend rate.