1 week ago
Strategy (MSTR) volition apt soon beryllium successful the marketplace for further sizable bitcoin purchases aft pricing an upsized merchantability of its latest preferred banal issue.
The institution sold 8.5M shares of its 10% Series A Perpetual Strife Preferred Stock astatine terms of $85 each, raising astir $711.2M. Strategy initially had hoped to rise $500M.
The latest bid of preferred banal differs from the archetypal STRK successful that it comes with a higher coupon (10% versus 8%) and has nary communal stock conversion provision.
MSTR shares are down marginally successful premarket enactment to conscionable nether $300. Bitcoin is dependable astatine $84,000.
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