Strategy raises $334M through stock sales but buys no Bitcoin

Ikhtisar:Strategy raised $333.7 million last week through common stock sales but made no Bitcoin purchases, leaving its holdings unchanged at 840,447 BTC. The company sold 3.46 million MSTR shares via its at-the-market offering program, according to an SEC filing. Proceeds funded $52.4 million in STRC preferred-stock dividends, $132.2 million in STRC repurchases (about 1.39 million shares), and $149.1 million added to its US dollar reserve, which stood at $4.80 billion. No Bitcoin was bought or sold; the average acquisition price remains $75,385 per coin. STRC dipped slightly in premarket trading. The reserve is intended to support preferred-stock dividends and interest payments on outstanding debt.

Strategy raised $333.7 million through common stock sales last week but made no Bitcoin purchases, leaving its holdings unchanged at 840,447 BTC.

The company sold 3.46 million MSTR shares between Aug. 10 and Aug. 16 through its at-the-market offering program, according to a Monday 8-K filing with the US Securities and Exchange Commission.

Of the proceeds, $52.4 million was used to fund the twice-monthly dividends on STRC preferred stock, while $132.2 million funded repurchases of the same security. Another $149.1 million was added to the companys US dollar reserve.

Strategy repurchased about 1.39 million STRC shares for $132.2 million during the week. It made no repurchases of its other preferred securities or MSTR common stock.

STRC was down 0.12% in premarket activity Monday at $94.67 after closing Friday 1.03% lower at $94.78, according to Yahoo Finance.

The company reported no Bitcoin purchases or sales during the period. Its 840,447 BTC were acquired for an aggregate $63.36 billion, including fees and expenses, at an average purchase price of $75,385 per coin.

Strategys US dollar reserve stood at $4.80 billion as of Sunday, including expected proceeds from stock sales that had not yet settled. The reserve is intended to support preferred-stock dividends and interest payments on outstanding debt.

Related: Strategys Saylor needs clarity in BTC pivot message to convince investors: StanChart

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