MicroStrategy Has Raised $46.6M From Share Sales Since September
Key Points:
- Michael Saylor is the CEO of MicroStrategy, which said in an SEC filing that since September 2022, when it signed a contract with underwriter Cowen & Co. for the sale of up to $500 million in common stock, it has raised $46.6 million from the selling of shares.
- MicroStrategy was started by Michael J. Saylor. He was a co-founder of the business in 1989, and he has been its chairman and CEO ever since.
Michael Saylor is the CEO of MicroStrategy, which said in an SEC filing that since September 2022, when it signed a contract with underwriter Cowen & Co. for the sale of up to $500 million in common stock, it has raised $46.6 million from the selling of shares.
The business said in an SEC filing on Feb. 17 that it has updated its “use of proceeds” statement to reflect potential debt repayment, such as for its term loan with Silvergate Bank, which was taken out for $205 million in March 2022 but has become more expensive as the U.S. Federal Reserve raised short-term interest rates.
The prepayment penalty on the Silvergate loan reduces by half to 0.25% in March 2023 and matures in March 2025.
MicroStrategy has a history of pooling proceeds from share sales to increase its bitcoin holdings, a tactic it feels outperforms investing in other asset classes.
MicroStrategy was started by Michael J. Saylor
He was a co-founder of the business in 1989, and he has been its chairman and CEO ever since.
He is well-known in the cryptocurrency community for being an outspoken supporter of bitcoin and a strong believer in its potential as a store of wealth and an inflation hedge.
Yet Saylor has also made it quite apparent that he prefers bitcoin to other cryptocurrencies like Ethereum. According to Saylor, who has been mentioned, Ethereum is a “science experiment,” and its application possibilities are constrained in comparison to those of bitcoin.
Even though MicroStrategy has invested a sizable amount in Bitcoin, it has more recently taken part in an initiative to establish a Bitcoin Mining Council that strives to advance ethical mining methods.
DISCLAIMER: The Information on this website is provided as general market commentary and does not constitute investment advice. We encourage you to do your research before investing.
Join us to keep track of news: https://linktr.ee/coincu
Website: coincu.com
Annie
Coincu News
Author
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MicroStrategy Has Raised $46.6M From Share Sales Since September
Key Points:
- Michael Saylor is the CEO of MicroStrategy, which said in an SEC filing that since September 2022, when it signed a contract with underwriter Cowen & Co. for the sale of up to $500 million in common stock, it has raised $46.6 million from the selling of shares.
- MicroStrategy was started by Michael J. Saylor. He was a co-founder of the business in 1989, and he has been its chairman and CEO ever since.
Michael Saylor is the CEO of MicroStrategy, which said in an SEC filing that since September 2022, when it signed a contract with underwriter Cowen & Co. for the sale of up to $500 million in common stock, it has raised $46.6 million from the selling of shares.
The business said in an SEC filing on Feb. 17 that it has updated its “use of proceeds” statement to reflect potential debt repayment, such as for its term loan with Silvergate Bank, which was taken out for $205 million in March 2022 but has become more expensive as the U.S. Federal Reserve raised short-term interest rates.
The prepayment penalty on the Silvergate loan reduces by half to 0.25% in March 2023 and matures in March 2025.
MicroStrategy has a history of pooling proceeds from share sales to increase its bitcoin holdings, a tactic it feels outperforms investing in other asset classes.
MicroStrategy was started by Michael J. Saylor
He was a co-founder of the business in 1989, and he has been its chairman and CEO ever since.
He is well-known in the cryptocurrency community for being an outspoken supporter of bitcoin and a strong believer in its potential as a store of wealth and an inflation hedge.
Yet Saylor has also made it quite apparent that he prefers bitcoin to other cryptocurrencies like Ethereum. According to Saylor, who has been mentioned, Ethereum is a “science experiment,” and its application possibilities are constrained in comparison to those of bitcoin.
Even though MicroStrategy has invested a sizable amount in Bitcoin, it has more recently taken part in an initiative to establish a Bitcoin Mining Council that strives to advance ethical mining methods.
DISCLAIMER: The Information on this website is provided as general market commentary and does not constitute investment advice. We encourage you to do your research before investing.
Join us to keep track of news: https://linktr.ee/coincu
Website: coincu.com
Annie
Coincu News
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