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332 sats \ 1 reply \ @kr OP 27 Mar 2023 \ parent \ on: MicroStrategy Repays $205M Loan at 22% Discount for $160M, Acquires 6,455 BTC bitcoin
they had a loan from silvergate that was backed by bitcoin collateral.
they’ve paid it off early (and at a discount), so now silvergate has given the collateral back to microstrategy.
to fund this loan repayment and to purchase the additional 6,455 BTC, microstrategy created and sold roughly $300m of new company shares.
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10 sats \ 0 replies \ @byzantine 28 Mar 2023
did they sell new shares and dilute or did they sell shares that were already issued but were held by the company?
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