MicroStrategy Announces Public Offering Of Series A Preferred Stock

According to Odaily, MicroStrategy has announced the issuance of 7,300,000 shares of its 8.00% Series A Perpetual Preferred Stock, with a public offering price set at $80.00 per share. The completion of the issuance and sale of these perpetual preferred stocks is scheduled for February 5, 2025, subject to customary closing conditions. MicroStrategy estimates that after deducting underwriting discounts, commissions, and estimated offering expenses, the net proceeds from the offering will be approximately $563.4 million. The company plans to use the net proceeds for general corporate purposes, including the acquisition of Bitcoin and working capital.