Strategy (MSTR) has increased its cash reserves to $3.75 billion after securing $544.5 million through the sale of common shares last week.
Executive Chairman Michael Saylor said the company’s expanded cash position can now support approximately 2.1 years of preferred stock dividend obligations.
The capital was raised by selling more than 5.4 million shares of Strategy’s common stock, according to an SEC filing published Monday morning.
The company used a small portion of the proceeds, totaling $25 million, to repurchase 288,930 shares of its high-yielding preferred stock, STRC.
Strategy did not purchase or sell any bitcoin during the period, leaving its holdings unchanged at 843,775 BTC.
Both MSTR shares and the company’s STRC preferred stock gained about 2.5% in pre-market trading as bitcoin moved higher toward $65,000 over the weekend.
