Strategy Plans $250 Million Stock Offering for Bitcoin and Operations
- Strategy aims to raise $250 million through the sale of preferred stock shares.
- The offering consists of 2.5 million shares priced at $100 each, with a 10% annual dividend yield.
- Proceeds will be used for Bitcoin acquisitions and general corporate purposes.
- Strategy recently acquired 705 BTC for $75 million, increasing its total holdings to 580,955 BTC.
- The company holds over $61 billion worth of Bitcoin, valued at approximately $106,000 each.
Strategy, formerly known as MicroStrategy, is launching a new stock offering to raise funds primarily for purchasing more Bitcoin and supporting operational needs. The company’s current Bitcoin holdings are substantial, with recent acquisitions boosting its total to nearly 581,000 BTC.
Source (2.6)https://decrypt.co/323366/michael-saylors-strategy-stock-ipo-bitcoin-operations?rand=52368