MicroStrategy Inc. (NASDAQ: MSTR) and its stakeholders are planning to discuss the possibility of increasing their issued shares, potentially to finance further acquisition of Bitcoin.
In December 2024, the company announced a preliminary report to the SEC, revealing intentions to convene a unique gathering with its stockholders. During this assembly, shareholders will be invited to cast their votes on potential adjustments to the company’s financial management procedures.
Initially, the company kept quiet about the meeting date, but recently they’ve revealed that it will take place on January 21st. Interestingly, shareholders will get the chance to vote on the proposed plan a day ahead, specifically on January 20th.
MicroStrategy to Sell More Shares for More Bitcoin
Although MicroStrategy is currently the leading corporate owner of Bitcoin, it aims to enhance this status by suggesting a novel financing approach aimed at boosting its Bitcoin procurement plans.
As per its initial submissions to the Securities and Exchange Commission, MicroStrategy is proposing to expand the total number of shares that can be issued for class A common stock from 330 million to a staggering 10,330 million. However, it’s important to note that the voting process has not occurred yet, and it remains unclear whether this proposal will be approved or not. This proposed action has stirred up debate, leading to various conjectures about how it might influence the potential market behavior of $MSTR.
At the upcoming meeting, shareholders will be asked to either agree or disagree on a proposal to boost the maximum number of authorized preferred shares from 5 million to 1 billion. If the majority favors this change, the company would have the option to sell more shares (currently valued at approximately $331 each) to raise extra funds for its Bitcoin reserve.
The business underlines that it’s planning to boost the number of shares it can issue from its stock, starting in October 2024, as part of the 21/21 Plan. This plan is geared towards assisting the company in expanding its Bitcoin holdings. Moreover, these proposals will stimulate broader market activities and serve various corporate objectives.
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2025-01-10 23:06