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MicroStrategy Has Raised Almost $47M Since September Through Securities Sales

ByLouis Adams

Feb 20, 2023
Reading time: < 1 minute

Analytics software provider MicroStrategy has raised $46.6 million by selling its securities since September 2022, according to the report filed by the company with the US Securities and Exchange Commission (SEC).

The company filed in the fall for up to $500 million in shares and entered into an agreement with investment bank Cowen and Company and BTIG to act as financial intermediaries.

According to the documents, the organization has sold 218,575 Class A common shares to date. MicroStrategy plans to use net proceeds for purchases of bitcoins and general corporate purposes, including debt repayment.

The report reads:

“We have not determined the share of the proceeds that we will direct to one purpose or another.”