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What will be the terms of MicroStrategy's perpetual preferred stock offering?
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MicroStrategy's official press release or SEC filing
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MicroStrategy Targets $2 Billion via Perpetual Preferred Stock to Expand Bitcoin Holdings
Jan 3, 2025, 09:43 PM
MicroStrategy Incorporated, a software company known for its significant Bitcoin investments, has announced plans to raise up to $2 billion through public offerings of perpetual preferred stock. This capital raise is part of the company's broader 21/21 Plan, which aims to secure $21 billion in equity and $21 billion in fixed income instruments over the next three years. The new funds are intended to strengthen MicroStrategy's balance sheet and enable further acquisition of Bitcoin. The offering, if it proceeds, is expected to occur in the first quarter of 2025, subject to market and other conditions. The terms of the perpetual preferred stock, including potential convertibility to common stock, dividend payments, and redemption provisions, have yet to be finalized.
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Convertible to common stock • 25%
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