MicroStrategy, the company specializing in software publishing, plans a fundraising campaign of 500 million dollars. She will sell class A shares to raise the expected sum. Some of this money will bewill turn to finance its investments in Bitcoin. The news was made public through a financial filing filed with the SEC last Friday.
MicroStrategy: selling stocks to reinvest in Bitcoin?
MicroStrategythe business intelligence software publisher, intends to sell shares to finance investments. The structure announced its future investment plans in a financial document submitted to the SEC last Friday. Indeed, the company thus wishes raise $500 million that it intends to partially invest in Bitcoin (BTC). To achieve its ends, the publisher is counting on the sale of Class A shares.
MicroStrategy continues to pull out all the stops to ensure this operation runs smoothly. For example, it has delegated two agents for the occasion. These two agents will take on the role of intermediaries in the sale of assets. Its choice is strategic, since it collaborates with BTIG and Cowen and Company, two banking institutions specializing in investment. If the two banks manage to finalize the transaction, they could get away with 2% of the total sales made.
We will nevertheless retain the publisher’s desire to remain transparent throughout the procedure. For example, the company admits that only part of the targeted 500 million will be invested in Bitcoin: “We intend to use the net proceeds from this offering for general corporate purposes, including acquiring bitcoin. », the company said.
A change of course after the departure of Michael Saylor?
the Withdrawal of the ex-CEO of MicroStrategy generates some speculation. Some crypto industry players fear that his departure will force the company to review its entire investment strategy. Certainly, the company admits that its former boss has an important influence, but this does not mean that it will question its entire strategy. The change of direction initiated by the company would rather have legal justifications, confesses MicroStrategy. Finally, it recognizes that its current strategy focused on Bitcoin presents risks.
Regarding the influence of its former leader, the company specifies that: “Because of the rights of our two classes of common stock and the fact that we are controlled by Michael J. Saylor, Mr. Saylor could prevent a third party from acquiring us or limit the ability of our other shareholders to influence the affairs of the company. business, which could make our Class A common stock less attractive. “.
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