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Strategy raises $333.7M via stock sales, adds to cash reserve
The company sold 3.46 million shares through its at-the-market program and added $149.1 million to its US dollar reserve, which stood at $4.8 billion as of Sunday.
Strategy raised $333.7 million through common stock sales last week, using the proceeds for preferred-stock dividends and repurchases while adding more to its US dollar reserve, according to a Monday 8-K filing reviewed by Cointelegraph.
The company sold 3.46 million MSTR shares between Aug. 10 and Aug. 16 through its at-the-market offering program. Of the proceeds, $52.4 million funded twice-monthly dividends on STRC preferred stock and $132.2 million was used to repurchase STRC shares.
Strategy repurchased about 1.39 million STRC shares for $132.2 million during the week, and it made no repurchases of other preferred securities or MSTR common stock. The filing also showed the company made no Bitcoin purchases or sales during the period.
Strategy’s Bitcoin holdings stayed unchanged at 840,447 BTC, acquired at an aggregate $63.36 billion, with an average purchase price of $75,385 per coin. Its US dollar reserve was $4.80 billion as of Sunday, including expected, not yet settled, stock-sale proceeds, and it is intended to support preferred-stock dividends and interest payments on outstanding debt.
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