On Monday, the American software company Strategy (formerly MicroStrategy) announced that it has signed a sales agreement. According to this agreement, Strategy can issue and sell its 8.00% Series A perpetual strike preferred stock (stock code: STRK), with a total issuance scale of up to $21 billion. Holders of the perpetual preferred stock may convert it into the company’s Class A common stock.
These stock sales will be conducted through an At-the-Market (ATM) stock sale program. Strategy stated that the company intends to use the net proceeds from the ATM program for general corporate purposes, including the purchase of Bitcoin and working capital.
Related Reports: “MicroStrategy Plans to Issue ‘Perpetual Preferred Stock’ to Raise $2 Billion for Bitcoin Purchases” and “Strategy’s 246,800 Bitcoins Accumulated Over the Past Four Months Are Currently Facing a $3 Billion Unrealized Loss.”
