The Bitcoin train for companies continues to run at full speed. More and more companies are joining and adopting a Bitcoin standard. Now the strategy of Michael Saylor, the absolute king within this part of the industry, announces that it will again sell 250 million dollars shares.
It is a new type of preference shares, and the proceeds will of course fully use to buy more Bitcoin.
How exactly does this work?
With STRD, Strategy is publishing a new class of preference shares.
Preference shares are a special form of shares that generally give the right to a fixed dividend. In contrast to ordinary shares, these shares often have priority for dividend payments and in the event of liquidation of the company. The new STRD shares of Strategy are perpetual preferreds: They do not have a expiry date and are expected to pay an unlimited dividend of 10% per year.
That makes them attractive for investors who are looking for stable income. At the same time, holders of preference shares usually have no voting rights, unlike ordinary shareholders.
The shares are offered to institutional investors and a limited group of non-institutional investors.
By far the largest in the world
Strategy is by far the largest business Bitcoin-Holder in the world. Since August 2020, the company has been able to collect 580,955 BTC since August 2020. That Bitcoin currently bear a value of more than $ 61.7 billion on the company’s balance.
The special thing is that the Bitcoin stock of Strategy is more than twice as large as those of the 117 other listed companies that buy BTC.
With the $ 250 million from STRD, Strategy can once again purchase more than 2,000 bitcoin. Holders of the new shares are in theory entitled to an annual dividend of 10% in cash, but only if it is decided to do so by the strategy board or an authorized committee.
Big names from the financial world guide the share issue of the Bitcoin company Strategy. Barclays, Morgan Stanley, Moelis & Company and TD Securities will lead the sale of the STRD shares. In addition, multiple investment firms, including The Benchmark Company and Amerivet Securities, offer support with the placement.
The involvement of big names shows how serious Bitcoin is now being taken within the financial world.
Source: https://newsbit.nl/strategy-wil-opnieuw-250-miljoen-ophalen-om-bitcoin-te-kopen/
