MicroStrategy (MSTR) successfully raised $563.4 million in its latest perpetual preferred stock offering, more than doubling its initial target of $250 million. The company issued 7.3 million shares of its new STRK series at a price of $80 per share.
The offering also saw an increase in the expected dividend yield, rising to 10% from the initial forecast of 8%, which is likely to generate stronger investor interest.
The capital raised will be used to further expand MicroStrategy’s Bitcoin (BTC) holdings, continuing its strategy of accumulating the digital asset.
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