Bitcoin price today: slips below $113k, near 6-wk low despite Fed cut bets
Investing.com -- MicroStrategy (NASDAQ:MSTR) stock rose 2% in after-hours trading on Thursday following the company’s announcement of a new at-the-market (ATM) offering program worth up to $4.2 billion.
The business intelligence firm, which has become known for its significant bitcoin holdings, plans to sell shares of its Variable Rate Series A Perpetual Stretch Preferred Stock (STRC Stock) over an extended period. The company stated it will take a "disciplined manner" to these sales, considering trading price and volumes at the time of sale.
According to the announcement, MicroStrategy intends to use the net proceeds from the ATM program for general corporate purposes, including bitcoin acquisitions and working capital. The company may also allocate funds toward cash dividends on outstanding preferred shares, excluding the STRC Stock.
The sales will be conducted through methods defined as "at the market offerings" under SEC Rule 415(a)(4), which may include negotiated transactions or block trades. The offering is being made pursuant to a prospectus supplement filed with the SEC on July 31, 2025, under an existing shelf registration statement that became effective earlier this year.
MicroStrategy has transformed its business strategy in recent years, becoming one of the largest corporate holders of bitcoin. This latest financing initiative appears to continue the company’s focus on building its cryptocurrency position while maintaining operational flexibility.
The stock trades under multiple tickers on the Nasdaq exchange, including MSTR, STRK, STRF, STRD, and STRC.
This article was generated with the support of AI and reviewed by an editor. For more information see our T&C.