PANews reported on January 27 that according to official news, MicroStrategy announced that, subject to market and other conditions, it intends to issue 2,500,000 shares of MicroStrategy Series A perpetually exercisable preferred stock in a public offering registered under the Securities Act of 1933, as amended. MicroStrategy intends to use the net proceeds from this offering for general corporate purposes, including the purchase of Bitcoin and as working capital.

Barclays, Moelis & Company LLC, BTIG, TD Cowen and Keefe, Bruyette & Wood (a subsidiary of Stifel Company) are acting as joint book-running managers for the offering. AmeriVet, Bancroft Capital and The Benchmark Company are acting as co-managers for the offering.

Earlier today, it was reported that MicroStrategy submitted a hybrid securities shelf registration application, and the potential proceeds will be used to purchase more Bitcoin.