The company sold 18.26 million MSTR shares, increased its USD Reserve to $5.1 billion and repurchased another $136.4 million of STRC.
Bitcoin treasury firm Strategy MSTR$120.10·At close raised approximately $2 billion last week through the sale of 18.26 million shares of common stock, according to a filing on Monday.
Strategy allocated $300 million of the proceeds to its USD Reserve and used $136.4 million to repurchase 1.43 million shares of its variable-rate preferred stock, STRC. The remaining proceeds were directed towards a newly established liquidity pool called “USD Cash.”
Strategy held $5.1 billion in its USD Reserve and $1.59 billion in USD Cash as of Aug. 23, giving the company total dollar liquidity of $6.69 billion.
The USD Reserve remains designated to support dividend payments on Strategy’s preferred stock and interest payments on its outstanding debt. The new USD Cash pool provides greater flexibility and can be used to acquire bitcoin, repurchase MSTR or preferred shares, repay convertible notes, increase the USD Reserve or meet other corporate purposes.
Strategy said the additional flexibility would allow management to respond more quickly to market conditions, including dislocations in bitcoin or the company’s securities.
QQLink Pro