Strategy plans offering of 2.5M preferred shares to fund additional BTC purchases

Bitcoin (BTC) investment firm Strategy announced on June 2 that it plans to initiate an initial public offering of 2.5 million shares of its 10.00% Series A Perpetual Stride Preferred Stock. According to a press release published on its website, proceeds from the offering will be allocated to general corporate purposes, including BTC acquisitions and working capital.