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#wct #BTC #DOGE #EDGEN Michael Saylor’s Strategy offers $250M preferred stock to buy more Bitcoin
Bitcoin-stacking Strategy is looking to raise $250 million through a new perpetual preferred stock listing to buy more Bitcoin.
Strategy, formerly MicroStrategy, plans to raise $250 million through an initial public offering of a new class of perpetual preferred stock so it can fund more Bitcoin purchases.
Strategy intends to issue 2.5 million shares of its 10% Series A Perpetual Stride Preferred Stock, with the ticker STRD, at $100 a share, the Bitcoin-stacking firm said in a June 2 statement.
Proceeds from the offering will be used to acquire additional Bitcoin
$105,643
and provide working capital, it added.
Perpetual preferred stocks often pay fixed dividends indefinitely, with no maturity date and typically have priority over common stock in payouts.
Strategy’s perpetual preferred stock offering will be available to institutional investors and selective non-institutional investors.
