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MicroStrategy shareholders will vote on proposals to boost stock issuance for Bitcoin strategy.
Shareholders of Virginia-based MicroStrategy are set to decide on a series of proposals aimed at boosting the company’s authorized common and preferred stocks in support of its aggressive digital assets accumulation strategy. The move is intended to enable the company to continue funding its ambitious plans for acquiring additional Bitcoin, having already acquired approximately 192,042 BTC worth around $18 billion since announcing its plan.
In accordance with a recent notice filed with the Securities and Exchange Commission (SEC), MicroStrategy will hold a special meeting in 2025 to vote on four key proposals. The meeting, which will take place via webcast, will allow stockholders of record as of a date yet to be determined in 2025 to participate.
One of the main proposals is an increase in authorized common stock from its current level of 330 million shares to 10.3 billion shares. This significant expansion aims to provide the necessary capital for future Bitcoin purchases under the company’s ’21/21′ plan, which involves securing $42 billion to fund additional acquisitions over a three-year period.
Co-founder and executive chairman Michael Saylor emphasized that once this goal is achieved, MicroStrategy will reassess its capital allocation strategy. The company has already reached approximately 42% of its planned investment target in under two months.
Furthermore, the proposals aim to amend MicroStrategy’s existing equity incentive plan to automatically grant equity awards valued at $2 million upon the appointment of three newly appointed directors: Brian Brooks, Jane Dietze, and Gregg Winiarski.
Source: cryptobriefing.com
