MicroStrategy’s Financial Gambit Hits a Bump With New Stock Deal Bitcoin proxy sold preferreds at big discount to pump interest 10% yield shows firm’s maneuver to open a new funding avenue MicroStrategy Inc.’s seemingly limitless moves to raise capital for its Bitcoin purchases have run into their first obstacle. The self-styled Bitcoin treasury company sold preferred stock units — rare, debt-like securities dangling an 8% coupon — last week, but it had to cater to price-sensitive buyers by pricing them at a sizable discount. The shares were sold for $80 apiece, 20% below their marketed price, effectively pushing the yield to 10% for buyers — a steep concession to finalize the deal.
microstrategys-financial-gambit-hits-a-bump-with-new-stock-deal-bitcoin-proxy-sold-preferreds-at-big-discount-to-pump-interest-10-yield-shows-firms-maneuver-to-open-a-new-funding-ave

MicroStrategy’s Financial Gambit Hits a Bump With New Stock Deal
Bitcoin proxy sold preferreds at big discount to pump interest 10% yield shows firm’s maneuver to open a new funding avenue

MicroStrategy Inc.’s seemingly limitless moves to raise capital for its Bitcoin purchases have run into their first obstacle.

The self-styled Bitcoin treasury company sold preferred stock units — rare, debt-like securities dangling an 8% coupon — last week, but it had to cater to price-sensitive buyers by pricing them at a sizable discount. The shares were sold for $80 apiece, 20% below their marketed price, effectively pushing the yield to 10% for buyers — a steep concession to finalize the deal.