PANews, May 22 - According to official news. Strategy (formerly MicroStrategy) announced that it will issue a total of up to $2.1 billion in 10% Series A perpetual preferred stock (code: STRF) through underwriters TD Securities, Barclays Capital, and Benchmark. The preferred stock began trading on the Nasdaq Global Select Market on May 21 at a price of $100.65 per share.
The announcement indicates that in the event of a 'fundamental change', preferred shareholders can request the company to repurchase shares at par value plus accumulated dividends. The funds from this financing will be used for company operations and Bitcoin investments, but the documents also indicate that there are significant risks involved in the investment. Currently, MicroStrategy holds 528,000 Bitcoins, and the first quarter financial report shows an unrealized loss of nearly $6 billion.
