MicroStrategy Expands Preferred Stock Offering, Rakes in $563 Million for Additional Bitcoin Purchases.

MicroStrategy (MSTR) significantly exceeded its fundraising expectations with its recent perpetual preferred stock offering, raising a total of $563.4 million. Originally aiming for $250 million, the company sold 7.3 million shares of its new STRK series at $80 per share.

The dividend yield on the offering has been increased to 10%, up from the initial 8% estimate, likely enhancing its appeal to investors.

The capital raised will be used to acquire more Bitcoin (BTC), continuing MicroStrategy’s strategy of increasing its cryptocurrency holdings.