Strategy, previously known as MicroStrategy, is planning to raise $250 million through an initial public offering of perpetual preferred stock to finance additional Bitcoin acquisitions. The company intends to issue 2.5 million shares of its 10% Series A Perpetual Stride Preferred Stock at $100 per share. The proceeds will be used for buying more Bitcoin and for working capital. Perpetual preferred stocks offer fixed dividends indefinitely and have priority over common stock. This offering will be available to institutional and selective non-institutional investors. Strategy, holding the largest corporate Bitcoin reserves globally, plans to use the funds to purchase approximately 2,351.8 Bitcoin at current market prices. The offering will be managed by Wall Street banks and investment firms, under an effective shelf registration statement filed with the US Securities and Exchange Commission. Read more AI-generated news on: https://app.chaingpt.org/news

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