MSTR Launches $2.1 Billion ATM Program for Perpetual Strife Preferred Stock
MSTR has announced a $2.1 billion initiative to issue and sell shares of its 10.00% Series A Perpetual Strife Preferred Stock. The shares will be offered over time via 'at the market' offerings as permitted under SEC Rule 415(a)(4). The net proceeds from these sales will support various corporate initiatives, including potential acquisitions of bitcoin and funding for operational activities. MSTR intends to periodically sell shares based on prevailing market conditions. This move aims to bolster its financial flexibility and capitalize on opportunities in the crypto market. The company’s strategy emphasizes the ongoing integration of bitcoin into its corporate structure and hedge against macroeconomic risks, reflecting a growing trend among corporations to adopt digital assets as part of their financial strategy.
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