MicroStrategy has raised $46.6M in the last six months by selling common stock.
The announcement was made by company CEO Michael Saylor.
- The company stated that this funding will be used to pay a portion of its debt, which includes a $205M loan from Silvergate Bank.
- The Silvergate loan matures in March 2025 and has a prepayment penalty.
- MicroStrategy is likely to continue paying the debt anyway because this prepayment penalty drops in March 2023 to 0.25% of the principal balance.
- MicroStrategy is known as a bullish investment company that uses most of its funds to buy Bitcoin.
- The company is believed to own 810 Bitcoin at an average purchase price of $16,845 per BTC.
