MicroStrategy Raises $563 Million From Preferred Stock Sale.

MicroStrategy Inc. has raised $563 million through a debt-like equity offering to fund its Bitcoin purchases. The preferred stock was sold below the liquidation preference, offering investors an 8% fixed coupon and a $1,000 conversion price. This novel offering appeals to a wider range of investors and is senior to common stock, with a regular quarterly dividend. MicroStrategy has been buying Bitcoin as an inflation hedge and currently holds about $50 billion in the token. [Extracted from the article]