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100 sats \ 0 replies \ @Wumbo 31 Jan \ on: MicroStrategy Announces Pricing of Strike Preferred Stock Offering (STRK) Stacker_Stocks
Yes, They are going to buy more BTC.
Also this gives them another type of Financial instrument to offer to the market.
Some organization want common stock, some want bonds, other want preferred stock.
MicroStrategy® Incorporated (Nasdaq: MSTR) (“MicroStrategy”) today announced the pricing of its offering on January 30, 2025 of 7,300,000 shares of 8.00% Series A Perpetual Strike Preferred Stock (the “perpetual strike preferred stock”), at a public offering price of $80.00 per share. The issuance and sale of the perpetual strike preferred stock are scheduled to settle on February 5, 2025, subject to customary closing conditions.
MicroStrategy estimates that the net proceeds to it from the offering will be approximately $563.4 million, after deducting the underwriting discounts and commissions and MicroStrategy’s estimated offering expenses. MicroStrategy intends to use the net proceeds from the offering for general corporate purposes, including the acquisition of bitcoin and for working capital.
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