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Strategy lifts latest preferred stock sale to $2B for more Bitcoin buys
CryptoSlate reported that Strategy, previously known as MicroStrategy, has increased its preferred equity offering from $500 million to a staggering $2 billion. This move reflects the company’s bold commitment to accumulating and purchasing additional Bitcoin.
The expanded financing aims to support Strategy’s ongoing efforts to purchase more Bitcoin amid an ETF-driven market rally, which has propelled the cryptocurrency to new all-time highs. To fuel this endeavor, the company has created multiple share classes, including the Series A Perpetual Stretch preferred shares priced at $90 per unit and offering a 9% initial dividend.
The underwriting of this massive offering will be led by Morgan Stanley, Barclays, TD Securities, and Moelis & Co., solidifying Strategy’s position as one of the most aggressive corporate buyers in the space.
Source: cryptoslate.com
