MicroStrategy has generated approximately $46.6 million in total revenue since issuing $500 million in common stock last September

2023-02-17 22:32:12

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ChainCatcher news, according to a filing submitted by MicroStrategy to the U.S. Securities and Exchange Commission (SEC), since reaching an agreement with underwriter Cowen and Company to sell up to $500 million of common stock in September 2022, it has sold 218,575 shares of Class A common stock, with total proceeds of approximately $46.6 million.

The filing states that the net proceeds from this offering will be used for general corporate purposes, including the purchase of Bitcoin and working capital, and, depending on market conditions, to repurchase the 0.750% convertible senior notes due 2025 and the 0% convertible senior notes due 2027, as well as to repay outstanding debt under secured term loans in accordance with the credit and guarantee agreements between its wholly-owned subsidiary MacroStrategy LLC and Silvergate Bank. (Source link)

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