Michael Saylor’s MicroStrategy plans to raise $563 million from its STRK preferred stock offering. This development is significant as it forms part of the software company’s plans to acquire more Bitcoin.
MicroStrategy To Raise $563 Million From STRK Offering
MicroStrategy estimates it will raise $563 million from its STRK offering. This came following a press release in which the company announced the pricing of its offering of 7.3 million shares of its Perpetual Strike Preferred Stock (STRK) at a public offering price of $80 per share. The company also revealed that the issuance and sale of the STRK stocks will take place on February 5, 2025, subject to customary closing conditions.
Based on the STRK pricing, MicroStrategy estimates that the net proceeds from the offering will be approximately $563.4 million after deducting the underwriting discounts and commissions and the company’s offering expenses. The company also mentioned that it intends to use the net proceeds from the offering to acquire more Bitcoin and for other general corporate purposes.
Saylor’s company has been on a hot streak since the start of last year, acquiring BTC for twelve consecutive weeks and counting. The company announced this week that it had purchased 10,107 BTC for $1.1 billion.
Boluwatife Adeyemi
Boluwatife Adeyemi is a well-experienced crypto news writer and editor who has covered topics that cut across DeFi, NFTs, smart contracts, and blockchain interoperability, among others. Boluwatife has a knack for simplifying the most technical concepts and making it easy for crypto newbies to understand. Away from writing, He is an avid basketball lover and a part-time degen.
Disclaimer: The presented content may include the personal opinion of the author and is subject to market condition. Do your market research before investing in cryptocurrencies. The author or the publication does not hold any responsibility for your personal financial loss.
✓ Share: