Michaela Alvez
Business intelligence and software company MicroStrategy has scheduled a special shareholder meeting to discuss expanding its equity-issuance plan and increasing its Bitcoin holdings.
On December 23, MicroStrategy submitted a proxy filing to the U.S. Securities and Exchange Commission (SEC), requesting approval for a shareholder vote on several proposals. The first proposal seeks to increase the authorized Class A common stock from 330 million shares to 10.33 billion shares. The second aims to raise the authorized preferred stock from 5 million shares to more than 1 billion shares.
The shareholder meeting will be conducted via a live webcast, accessible exclusively to MicroStrategy stockholders through a designated website URL.
In October 2024, the company unveiled an ambitious three-year capital strategy called the 21/21 Plan. The goal is to raise $21 billion in equity capital and $21 billion through fixed-income instruments, including debt, convertible notes, and preferred stock.
“Proposals 1 and 2 for this Special Meeting request an increase in the authorized shares of the capital stock of the Company to support further implementation of our 21/21 Plan and future capital markets activity more generally as well as other corporate purposes.” the filing stated.
MicroStrategy shareholders will vote on a proposal to grant automatic equity awards to new members of the company’s Board of Directors upon their appointment.
Shareholders will then vote on whether to approve or reject proposals to adjourn the Special Meeting, should it be necessary to gather additional proxies if the required vote threshold is not met.
“The proposals we are asking you to consider reflect a new chapter in our evolution as a Bitcoin Treasury Company and our ambitious goals for the future,” said executive chairman Michael Saylor.
MicroStrategy has made significant waves in the news recently due to its continued Bitcoin (BTC) acquisitions. In December alone, the company purchased 42,162 BTC, totaling more than $4 billion at current market prices.
In late October, MicroStrategy disclosed a Bitcoin yield of 17.8%, with plans to achieve a more moderate annual yield of 6% to 10% from 2025 to 2027. Since then, the company has secured $13 billion through stock sales and raised $3 billion through convertible bonds.
MicroStrategy’s aggressive Bitcoin strategy has played a key role in its rise to the Nasdaq 100, marking a significant achievement for the business intelligence firm. In 2024, MicroStrategy’s bold Bitcoin strategy paid off significantly when the company was added to the prestigious Nasdaq 100. Its stock surged more than 422% year-to-date.
The move was fueled by the company’s ability to generate significant market value, largely through its substantial Bitcoin holdings. This is alongside a strong performance in its core business of software and business intelligence.
Read More
- MicroStrategy to Pause Bitcoin Buying in January?
- MicroStrategy Bitcoin Bag Keeps Getting Bigger With $2.1 Billion Buy
- Peter Schiff Slams Michael Saylor’s Bitcoin Strategy
Michaela has no crypto positions and does not hold any crypto assets. This article is provided for informational purposes only and should not be construed as financial advice. The Shib Magazine and The Shib Daily are the official media and publications of the Shiba Inu cryptocurrency project. Readers are encouraged to conduct their own research and consult with a qualified financial adviser before making any investment decisions.
