
On Monday, the American software company Strategy (formerly MicroStrategy) announced that it has signed a sales agreement. According to the agreement, Strategy may issue and sell its 8.00% Series A perpetual strike preferred stock (stock code: STRK), with a total issuance scale of up to $21 billion. Holders of the perpetual preferred stock will be able to convert it into the company’s Class A common stock.
The sale of these stocks will be conducted through an At-the-Market (ATM) stock offering plan. Strategy stated that the company intends to use the net proceeds from the ATM plan for general corporate purposes, including the purchase of Bitcoin and working capital.
Related reports: “MicroStrategy Plans to Issue ‘Perpetual Preferred Stock’ to Raise $2 Billion for Bitcoin Purchases” and “Strategy’s 246,800 Bitcoin Accumulated Over the Past Four Months Currently Shows a Loss of $3 Billion.”
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