Home Analysis MicroStrategy has raised $46.6M via share sales since September

MicroStrategy has raised $46.6M via share sales since September

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Microstrategy, led by Michael Thaler, SEC filing The company said it has raised $46.6 million through equity sales since entering into an agreement with underwriter Cowen and Co. to sell up to $500 million in common stock in September 2022.

The company has updated its “Use of Proceeds” statement to include the possibility of repaying its debt, including the $205 million term loan with Silvergate Bank, which it borrowed in March 2022, and the U.S. Federal Reserve. The lack of a board made it more expensive. -Term interest rates, the company said in an SEC filing on Feb. 17.

The Silvergate loan has an upfront penalty, halves to 0.25% in March 2023, and matures in March 2025.

In the past, MicroStrategy has been known to pool funds from equity sales to add to its Bitcoin holdings. This is a strategy that we believe is superior to other asset classes.

The founder of MicroStrategy is Michael J. Saylor. He co-founded the company in 1989 and has served as Chairman and CEO since its inception.

He is widely known as the voice of Bitcoin in the cryptocurrency industry and is also a major proponent of Bitcoin’s potential as a store of value and a hedge against inflation.

But Thaler has also made it clear that he prefers Bitcoin over other cryptocurrencies, including Ethereum.sailor is quoted As they say Ethereum is a “scientific experiment” and its use cases are limited compared to Bitcoin’s potential.

MicroStrategy has invested heavily in Bitcoin and has recently been involved in the project that created Bitcoin. Bitcoin Mining Council It aims to promote sustainable mining practices.

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