Outside Source
Strategy said it would use the net proceeds for its working capital and acquisition of Bitcoin.
News
Business intelligence firm and Bitcoin investor Strategy plans to offer 5 million shares of the company’s Series A Perpetual Strife Preferred Stock and use the proceeds to purchase more Bitcoin.
In an announcement, the company said it intends to use the proceeds for general purposes. This includes its working capital and “acquisition of Bitcoin.” However, the company said this is still subject to market and other conditions.
According to Strategy, the stock will accumulate cumulative dividends at 10% annually. The company also noted that stockholders would receive dividends on the stock quarterly, starting on June 30, 2025.
Strategy said it could buy back all of this stock for cash if the total number of shares left in the market drops below 25% of the issued amount.
This article first appeared at Cointelegraph.com News
