Michael Saylor’s Strategy has quadrupled its previously announced $250 billion stock offering as a new funding avenue for its Bitcoin investments.
Strategy, the world’s largest corporate Bitcoin holder, plans to raise nearly $1 billion through a new stock offering to fund additional Bitcoin purchases.
The company, led by executive chairman Michael Saylor, plans to issue 11,764,700 shares of 10.00% Series A Perpetual Stride Preferred Stock at a public offering price of $85 per share.
Strategy estimates to raise approximately $979.7 million from the net proceeds after deducting the underwriting discounts and commissions for the firm’s offering expenses, according to a June 6 announcement from the firm.
