Strategy (Nasdaq: MSTR) held off on equity sales of MSTR, opting for sales of its preferred equity to fund the latest Bitcoin purchase.
According to a recent company 8K, Strategy sold $50 million across its four preferred stocks in the period of Nov. 3 to Nov. 9:
- 165,614 shares of STRF with $16.6 million notional value and $18.3 million in net proceeds.
- 262,311 shares of STRC with $26.2 million notional value and $26.2 million in net proceeds.
- 50,881 shares of STRK with $5.1 million notional value and $4.5 million in net proceeds
- 12,800 shares of STRD with $1.3 million notional value and $1.0 million in net proceeds.
Importantly, the company reported no sales of MSTR Class A common stock during the period, meaning less dilution for MSTR holders. Strategy also reported that it acquired 487 bitcoin during the same week for an aggregate purchase price of $49.9 million, or an average purchase price of $102,557 per bitcoin, inclusive of fees and expenses
Strategy still has the following selling capacity available for each stock offering: $1.64 billion for STRF, $4.17 billion for STRC, $20.34 billion for STRK, $4.13 billion for STRD, and $15.85 billion for MSTR.
As of Nov. 9, the company held 641,692 bitcoin for an aggregate purchase price of $47.54 billion and an average purchase price of $74,079 per bitcoin, inclusive of fees and expenses.
Shares of MSTR were down 1% as of publication.
