2025-1-27 15:18 |
Disclaimer: The analyst who wrote this piece owns shares of MicroStrategy (MSTR).
MicroStrategy (MSTR), announced a preferred share offering of 2.5 million as the firm looks at new ways to accumulate bitcoin (BTC).
The firm led by Executive Chairman Michael Saylor, said that the Series A Perpetual Preferred Stock (STRK) will have a $100 liquidation preferences with cumulative dividend.
The announcement came after MicroStrategy increased its bitcoin holding for the 12th straight week.
In the week ended Jan. 26, the company bought 10,107 BTC, taking its total holdings to 471,107 BTC, Saylor wrote in a post on X. The purchase, at an average price of $105,596 per bitcoin, raised MicroStrategy's overall average purchase price to $64,511.
Saylor teased the announcement on Sunday, as he has done in recent weeks, posting: "Don't stop thinking about tomorrow."
On Jan. 21, MicroStrategy shareholders approved increasing the authorized number of Class A common shares to 10.3 billion from 330 million shares.
MicroStrategy also filed a mixed securities shelf registration that now includes: debt securities, preferred stock, warrants and depository shares in addition to Class A common stock.
UPDATE (Jan. 27, 13:21 UTC): Adds details on MicroStrategy's mixed securities registration. UPDATE (Jan. 27, 13:40 UTC): Adds details on firm's preferred share offering.
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