Investing.com — MicroStrategy, a business intelligence company, has revealed plans to raise up to $2 billion through one or more offerings of perpetual preferred stock.
The purpose of the offering is to allow MicroStrategy to continue to strengthen its balance sheet and acquire more bitcoin, the company said in a press release.
The offering is expected to take place in the first quarter, although the final terms and price have not yet been determined.
The raised capital will be utilized to strengthen MicroStrategy’s balance sheet and to acquire more bitcoin.
This move is part of a larger, previously announced plan by MicroStrategy. Over the next three years, the company intends to raise $21 billion of equity and $21 billion of fixed income instruments.
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