MicroStrategy's board of directors has announced a 10-for-1 stock split. This decision follows the company’s recent purchase of over 11,000 BTC for approximately $786 million, bringing its total Bitcoin holdings to a new high.
MicroStrategy (Nasdaq: MSTR) positions itself as a leading Bitcoin development company, focusing on accumulating Bitcoin as a primary treasury reserve asset. The company also develops AI-powered enterprise analytics software and Bitcoin applications, underlining its commitment to financial market activities, advocacy, and technology innovation.
and establish a robust presence in the EU's evolving crypto landscape.
The company's share price has surged to around $1,370, outpacing Bitcoin's growth significantly. MicroStrategy's stock has increased by about 216% this year, compared to Bitcoin’s 91% rise.
The stock split will occur on August 1, 2024, with each shareholder receiving nine additional shares for every share they hold. Class A shareholders will receive extra class A shares, and class B shareholders will receive extra class B shares. This move aims to make shares more affordable and accessible without altering the company’s market capitalization.
The new shares will be officially distributed after trading closes on August 7, 2024.
MicroStrategy has clarified that the stock split will not affect current voting rights. By lowering the trading price per share, the split aims to attract more investors and employees to purchase the company's stock.
MicroStrategy Incorporated has been actively engaged in several significant financial strategies. The company has upsized its offering of convertible senior notes to $700 million, due in 2032, with an additional $100 million option available for initial purchasers. The proceeds from this offering are intended for acquiring more Bitcoin and for general corporate purposes.
MicroStrategy also plans to fully redeem its 0.750% Convertible Senior Notes due 2025, involving an aggregate principal amount of $650 million. This move is aimed at addressing all outstanding notes held by investors.
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JoyMicroStrategy, a major Bitcoin holder among publicly traded companies in the U.S., announced yesterday (13th) its plan to issue $500 million worth of convertible senior notes to qualified institutional investors and use the proceeds to buy more Bitcoin. However, the stock price fell instead of rising.
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Brian