Strategy to Raise $2.47B Through Sale of 28M Preferred Shares Priced at $90 Each

Key Points

1. Strategy will sell 28 million preferred shares at $90 each, estimating net proceeds of approximately $2.474 billion after underwriting discounts.

2. The proceeds will be used to purchase Bitcoin and cover operating costs, with the STRC Stock paying monthly dividends starting at 9% per year.

3. Strategy recently acquired 4,225 BTC for $472.5 million, bringing its total holdings to 601,550 BTC at an average price of $71,268 per coin.

4. The company, led by Bitcoin advocate Michael Saylor, has a market cap of $116.58 billion and is a prominent Bitcoin proxy in public markets.

5. MicroStrategy Inc. Class A stock (MSTR) showed no change at $414.92 in regular trading but indicated a 2.30% drop in pre-market trading.