Odaily News According to official news, MicroStrategy announced that it will issue 7,300,000 shares of 8.00% Series A Perpetual Exercisable Preferred Stock ("Perpetual Exercisable Preferred Stock") on January 30, 2025, with a public offering price of US$80.00 per share. The issuance and sale of the Perpetual Exercisable Preferred Stock is scheduled to be completed on February 5, 2025, subject to customary closing conditions.
MicroStrategy estimates that the net proceeds from the offering, after deducting underwriting discounts and commissions and MicroStrategy's estimated offering expenses, will be approximately $563.4 million, and MicroStrategy intends to use the net proceeds from the offering for general corporate purposes, including the acquisition of Bitcoin and for working capital.