Michael Saylor announces increase in his company's fundraising target to half billion US dollars
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Michael Saylor, cofounder of the Bitcoin-focused company MicroStrategy, has taken to his official account on the X social media network to make an important announcement. Saylor said that MicroStrategy is pricing its Strike Preferred Stock Offering, planning to raise not $250 million but $584 million.Saylor published a link to a press release published by MicroStrategy, adding a summary about the company raising the fundraising target. On Jan.
The public offering price is $80.00 per share. This is perpetual stock; therefore they do not have a maturity date, and MicroStrategy will not have to redeem it later on. The company just offers 8% of an annual dividend yield on it. However, MicroStrategy will have the right to redeem that stock in cash at its own discretion.RLUSD Major Milestone Triggers Warning for XRP Community: DetailsAccording to the document shared by Saylor, the stock will be issued and sold on Feb. 5.
As reported earlier today, Forbes magazine’s recent issue contains an article about Michael Saylor and a photo of him on the front cover. The article refers to him asThe article shared with a wide reading audience the story of Saylor as a businessman and of MicroStrategy as it started regular Bitcoin accumulation in August 2020, in the middle of the pandemic. Back then, Saylor began calling the U.S. dollar trash and decided to use the company’s cash balance to purchase BTC.
Disclaimer: The opinions expressed by our writers are their own and do not represent the views of U.Today. The financial and market information provided on U.Today is intended for informational purposes only. U.Today is not liable for any financial losses incurred while trading cryptocurrencies. Conduct your own research by contacting financial experts before making any investment decisions.
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