MicroStrategy announces pricing of strike preferred stock offering
MicroStrategy has announced the pricing for its perpetual strike preferred stock offering, set at $80 per share, with corporate securities to be issued on February 5. The company anticipates generating $563.4 million in revenue from this offering, which features an 8% coupon and a liquidation value of $100. The proceeds will primarily be used for acquiring more Bitcoin and covering operating expenses. MicroStrategy continues to follow its '21/21' strategy, aiming to raise $21 billion in equity and $21 billion in fixed-income securities to finance its Bitcoin acquisitions, solidifying its status as a leading Bitcoin-holding firm. Recently, chairman Michael Saylor reported that MicroStrategy currently holds 471,107 BTC, valued at around $49.4 billion, with unrealized gains exceeding $19 billion. In another move, the company issued a redemption notice for its 2027 convertible senior note tranche, worth $1.05 billion, which holders can redeem or convert to stock by February 24.
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