Foresight News reports that Strategy (formerly MicroStrategy) has announced it has signed a sales agreement under which Strategy may issue and sell its 10.00% Series A perpetual Stride preferred stock, par value $0.001 per share, for a total issuance price of up to $4.2 billion. The strategy is expected to sell STRD stock in a regulated manner over a longer period according to the ATM plan, considering the trading price and trading volume of STRD stock at the time of sale.
Strategy plans to use the net proceeds from this offering for general corporate purposes, including the acquisition of Bitcoin and as working capital, and may also use the net proceeds to pay dividends on its 10.00% Series A perpetual Strife preferred stock (par value $0.001 per share) and 8.00% Series A perpetual Strike preferred stock (par value $0.001 per share).
