MicroStrategy raises $333.7 million via stock sale, allocates funds to cash reserves and preferred stock buybacks while keeping Bitcoin holdings unchanged.
MicroStrategy (NASDAQ: $MSTR) sold 3.46 million shares of its common stock for $333.7 million, directing $150 million to cash reserves and $132.2 million to repurchase preferred stock. The company also paid $52.4 million in dividends on its 12% yielding preferred stock.
The firm maintained its Bitcoin holdings at 840,447 BTC, acquired for $63.36 billion at an average price of $75,385 per BTC. Strategy prioritizes cash reserves and dividend coverage over additional Bitcoin purchases in the near term.
MSTR stock has fallen 74% over the past year, trading at $93.04. The company retains $653 million for preferred-stock repurchases and $1 billion for common-stock buybacks.