MicroStrategy raises $563M from oversubscribed STRK stock offering

Share This Post

MicroStrategy has significantly exceeded expectations with its latest perpetual convertible preferred stock offering, securing $563.4 million—nearly three times the anticipated amount.

According to a Jan. 31 statement, the company expanded its STRK stock offering to 7.3 million shares, each carrying a $100 liquidation preference.

The company plans to allocate the proceeds toward corporate initiatives, including Bitcoin acquisitions and general working capital.

If approved by the board, investors will earn an 8% fixed annual dividend, paid quarterly starting March 31, 2025. Payments may be issued in cash, Class A common stock, or a combination.

Meanwhile, MicroStrategy retains the right to redeem all outstanding preferred STRK stock if the total liquidation preference falls below 25% of the original issuance or if certain tax events occur. The redemption price will be based on either the liquidation preference or the stock’s average market price over the last five trading days, whichever is higher.

MicroStrategy remains the largest corporate holder of Bitcoin, currently holding 471,000 BTC valued at around $50 billion. According to Saylortracker data, the firm has an unrealized profit of nearly $20 billion.

The post MicroStrategy raises $563M from oversubscribed STRK stock offering appeared first on CryptoSlate.

Read Entire Article
spot_img
- Advertisement -spot_img

Related Posts

Ethereum (ETH) Breakout Signals Potential 20% Price Rally

The post Ethereum (ETH) Breakout Signals Potential 20% Price Rally appeared first on Coinpedia Fintech News Ethereum (ETH), the world’s second-largest cryptocurrency by market capitalization,

Bitcoin ETFs See $588 Million Inflow As Market Momentum Continues

The positive momentum on bitcoin ETFs continued with another day of net inflows worth $588 million, while ether ETFs bounced back with a net inflow of $6777 million Bitcoin and Ether ETFs Record

Chainlink Could Target $30 Once It Breaks Bullish Pattern – Top Analyst

Chainlink (LINK) has shown remarkable resilience amid market volatility, holding above key support levels while other assets experience sharp fluctuations Despite uncertainty across the crypto space,

World Liberty Financial Makes $10 Million Ethereum Purchase

The post World Liberty Financial Makes $10 Million Ethereum Purchase appeared first on Coinpedia Fintech News In a recent development, World Liberty Financial has made yet another purchase of

Bitwise CIO believes Bitcoin’s traditional 4-year cycle is over

Bitwise Chief Investment Officer Matt Hougan has questioned the persistence of Bitcoin’s (BTC) historical four-year cycle, suggesting that recent policy shifts in Washington could extend the

Genius Group Launches Rights Offering to Expand Bitcoin Holdings

The post Genius Group Launches Rights Offering to Expand Bitcoin Holdings appeared first on Coinpedia Fintech News Genius Group, an AI-powered education company announced on Friday a rights offering