Strategy is aiming to raise at least $500 million via a new preferred equity offering, selling 5 million Series A “Stretch” shares at $90–95 each with a starting 9% dividend to fund more Bitcoin purchases.

The shares, marketed by major banks, are senior to most existing equity but junior to some earlier preferreds and convertibles. Unlike its other securities, the Stretch shares offer cumulative, adjustable dividends that can rise monthly but fall only slightly each year. The company, holding over $71 billion in Bitcoin, saw its stock rise to $428 on Monday, with a further 0.4% gain after the offering was announced. CEO Michael Saylor continues to aggressively expand Bitcoin holdings through creative financing.

Source: Forex Live