A filing by the asset management company Strategy (formerly MicroStrategy) with the U.S. SEC on March 18 revealed that the firm planned to issue an additional 5,000,000 shares of its 10.00% Series A Perpetual Strife Preferred Stock.
The firm also confirmed that the stock would be available at $100 per share and a preferred initial liquidation of $100 per share.
Strategy mentioned that the raised amount from the distribution of the shares would go toward general company expenditure, including the purchase of more BTC and for working capital.
The perpetual strife preferred stock will accrue dividends yearly at a rate of 10.00% on the stock’s price. Strategy stated that the company would pay regular dividends out of the funds legally available for dividend payments.
