JUST IN: MicroStrategy announces they want to raise up to $2 billion through a new type of stock called perpetual preferred stock.
Perpetual preferred stock is special because:
- It doesn't have an end date (it's "perpetual").
- It can be converted into regular shares (Class A common stock) of MicroStrategy.
- It pays dividends in cash.
- The company can buy back these shares under certain conditions.
- This new stock will be ranked higher than the regular stock (Class A common stock) in terms of priority for dividend payments.
- The exact terms are not finalized yet.
The goal of raising this money is to strengthen the company's financial position and to buy more Bitcoin.
