- Strategy sold 18,261,118 MSTR shares for US$2.01 billion net in the week to 23 August, with all four of its preferred at-the-market programmes at zero.
- “No Bitcoin purchases or sales were made this week,” the filing states, leaving holdings at 840,447 BTC bought for an aggregate US$63.36 billion.
- US$136.4 million of the proceeds repurchased 1,431,212 STRC shares, and US$300 million went into the company’s USD Reserve.
Strategy (formerly MicroStrategy) has raised US$2.01 billion (AU$2.81 billion) selling common stock in the week to 23 August, and bought no Bitcoin with any of it.
According to a Form 8-K the company filed with the SEC, sales covered 18,261,118 shares of MSTR class A common stock, measured net of commission.
All four preferred at-the-market programmes, covering the STRF, STRC, STRK and STRD shares listed alongside MSTR on the Nasdaq Global Select Market, sold nothing across the period. Strategy still has US$19.69 billion (AU$27.57 billion) of MSTR available to issue under the programme.
“No Bitcoin purchases or sales were made this week,” the filing states. Holdings stand at 840,447 BTC, bought for an aggregate US$63.36 billion (AU$88.70 billion) at an average of US$75,385 (AU$105,539) a coin, both figures inclusive of fees and expenses.
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Repurchasing STRC Shares
US$136.4 million (AU$190.96 million) of the common-stock proceeds funded repurchases of 1,431,212 STRC shares, Strategy’s variable-rate perpetual preferred. Another US$300 million (AU$420 million) went into the USD Reserve, and the remaining proceeds into USD Cash.
Strategy established USD Cash on 24 August as a new component of the Digital Credit Capital Framework it set out on 29 June.
The filing calls it “a separately designated pool of U.S. dollar liquidity that the Company may retain for future deployment”, available to acquire Bitcoin, pay preferred dividends and interest, repurchase stock, repay or redeem convertible notes, or top up the USD Reserve itself.
The USD Reserve held US$5.10 billion (AU$7.14 billion) on 23 August and USD Cash held US$1.59 billion (AU$2.23 billion). Both figures include expected proceeds from shares sold but not yet settled. The reserve’s policy is unchanged and stays designated for preferred dividends and interest on debt.
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The post Strategy Raises $2 Billion Without Buying More Bitcoin appeared first on Crypto News Australia.
