Software development company MicroSstratey (MSTR) announces a huge new supply offer to raise money for collecting more Bitcoin (BTC).
In a new press release, the Business Intelligence company out It determines the price of its eternal strike preferred stock offer at $ 80 per share in hope of $ 563.4 million, some of which would go to acquiring more of the best crypto assets per market capitalization.
Other ways in which the funds would be used are for both working capital and general operating costs.
A preference supply offer is a way for a company to attract capital without diluting its voting rights. They generally offer investors higher and more consistent yields and more stability.
Says micro strategy,
“The eternal strike preference shares have a liquidation judge of $ 100 per share and will collect cumulative dividends with a fixed rate of 8.00% per year … holders of the preference of the eternal strike have the right to make their areas of eternal strike To convert, preference shares on each working day (subject to certain restrictions) in shares of the ordinary shares of micro strategy. “
Earlier this month, the shareholders of MicroStrategy – who was founded by Bitcoin Maximist and former Chief Executive Michael Saylor – voted to increase the number of shares in an attempt to raise money to buy more of the Crypto King.
At that time it was reported that the proposal had to increase the number of ordinary shares from 330 million to 10.3 billion and preference shares from 5 million to 1 billion. The proposal was about 56% approval.
According to data from BTC Blockchain Tracker Bitcoin Treasuries, MicroSstratey at the time of writing has A stock of 471,107 BTC worth just over $ 48 billion.
The Digital Asset flagship is traded for $ 102.002 at the time of writing, a decrease of 3.2% during the last 24 hours, while MSTR is appreciated at $ 334 at the time of writing, a decrease of 1.6% on the day.
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Generated image: midjourney