Strategy Raises $334 Million from Share Sale but Does Not Buy Bitcoin

Last week, Strategy raised $333.7 million from the sale of common shares but did not purchase bitcoin. Its holdings of the first cryptocurrency remained unchanged—840,447 $BTC.

According to an 8-K report filed with the U.S. Securities and Exchange Commission (SEC) on Monday, the company sold 10,346,000 MSTR shares between [date range] August through an at-the-market offering program.

From the proceeds, $52.4 million was allocated for dividend payments on STRC preferred shares, which are paid twice a month, and $132.2 million was used to repurchase those same securities. An additional $149.1 million was added to the company's dollar reserve.

During the week, the company repurchased approximately 1.39 million STRC shares for $132.2 million. Strategy did not repurchase any other preferred securities or common MSTR shares.

STRC shares fell 0.12% in Monday's pre-market—to $94.67. On Friday, they closed the session down 1.03% at $94.78, according to Yahoo Finance.

The company did not report any bitcoin purchases or sales during this period. Its 840,447 $BTC were acquired for a total of $63.36 billion, including fees and expenses, at an average price of $75,385 per coin.

As of Sunday, Strategy's dollar reserve stood at $4.80 billion. This amount included expected proceeds from share sales for which settlements had not yet been finalized. The reserve is intended for dividend payments on preferred shares and interest on outstanding debt.

Related: Saylor of Strategy Needs to Articulate Transition to $BTC More Clearly to Convince Investors: StanChart