MicroStrategy Inc. has announced the initial public offering of 5,000,000 shares of its Variable Rate Series A Perpetual Stretch Preferred Stock, known as STRC Stock. The offering is being conducted under the Securities Act of 1933 and will be listed on the Nasdaq. The proceeds from this offering will be used for general corporate purposes, including the acquisition of bitcoin and for working capital. The joint book-running managers for the offering include Morgan Stanley, Barclays, Moelis & Company, and TD Securities.
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