Strategy Inc. (NASDAQ:MSTR), announced on Monday that it has filed to offer up to $21 billion in preferred stock to raise funds for Bitcoin (CRYPTO: BTC) purchases.
What Happened: The sales agreement involves issuing 8.00% Series A perpetual strike preferred stock STRK with a par value of $0.001 per share, which holders can convert into Strategy’s class A common stock.
The proceeds will primarily support Bitcoin acquisitions, with additional funds allocated for working capital and general corporate purposes.
The offering, structured as an at-the-market (ATM) program, allows Strategy to sell shares over …
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