MicroStrategy Inc. (NASDAQ:MSTR) shareholders on Tuesday approved a proposal to increase the company’s authorized Class A shares by 30 times to support future Bitcoin (CRYPTO: BTC) acquisitions.
What happened: About 56% of votes were cast in favor of increasing the shares from the current 330 million to 10.33 billion, Bloomberg reported, citing the meeting’s recording.
Investors also approved the proposal to increase the number of authorized shares of preferred stock from 5 million to 1.005 billion, reflecting a 201x increase. Preferred stocks usually offer fixed dividends and rank higher than common …
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