Microstrategy plans to raise $750 million through common stock sale
On November 30th, Microstrategy, Inc. (NASDAQ code: MSTR) announced that, according to a sales agreement signed with Cowen and Company, LLC, Canaccord Genuity LLC, and BTIG, LLC (collectively referred to as "agents") on November 30th, 2023, the company plans to raise up to $750 million by selling Class A common stock. The face value of these Class A common stocks is $0.001 per share and will be traded on the Nasdaq Global Select Market under the trading code "MSTR".
As of November 28th, 2023, the last trading price of Microstrategy Class A common stock on the Nasdaq Global Select Market was $505.87 per share. According to the supplemental prospectus, the sale of these common stocks may be conducted at market prices and in any manner permitted by law, and may be deemed a "sale on the market" (as defined in Section 415(a)(4) of the Securities Act of 1933, as amended).
Disclaimer: The content of this article solely reflects the author's opinion and does not represent the platform in any capacity. This article is not intended to serve as a reference for making investment decisions.
You may also like
Turning Tesla cameras into data engines
A DePIN hardware device from Hamburg-based NATIX Network allows Tesla drivers to monetize their travel
Price targets to watch as bitcoin struggles to hit $100K
Ledn’s John Glover gives some price targets to watch for bitcoin
Bitcoin Price Seeks Recovery Today As CHILLGUY Surges 40%
CFTC could take over cryptocurrency regulation under Trump administration; Will SEC’s role be diluted?