Strategy (NASDAQ:MSTR) on Monday announced the launch of a $4.2 billion ATM stock offering, aiming to scale its Bitcoin (CRYPTO: BTC) holdings and enhance capital flexibility.
What Happened: The offering involves the sale of its 10.00% Series A Perpetual Stride Preferred Stock (STRD), as unveiled during an investor presentation by CEO Phong Lee and Executive Chairman Michael Saylor.
The proceeds will be used to purchase more Bitcoin, fund general corporate operations, and support dividend payments for other preferred stock classes, including (NASDAQ:STRK) and (NASDAQ:STRF).
The company plans to sell the shares in a gradual, market-aware manner, potentially via block trades or negotiated deals.
This move …