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Microstrategy plans to raise $750 million through common stock sale

Microstrategy plans to raise $750 million through common stock sale

CointimeCointime2023/11/30 14:18
By:Cointime

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).

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