Strategy secures $334M from share offerings without adding to Bitcoin position
Funds were directed toward STRC dividend distributions and share repurchases, with an additional $149.1 million channeled into Strategy's cash reserves in US dollars, bringing the total to $4.8 billion.
Strategy generated $333.7 million in revenue from selling common stock during the previous week, yet did not acquire any Bitcoin, maintaining its position at 840,447 BTC without change.
Between Aug. 10 and Aug. 16, the firm offloaded 3.46 million MSTR shares via its at-the-market offering initiative, as disclosed in an 8-K document filed Monday with the US Securities and Exchange Commission.
From the total funds raised, $52.4 million went toward financing the semi-monthly dividend payments for STRC preferred stock, with an additional $132.2 million allocated to repurchasing the same preferred security. A further $149.1 million was deposited into the firm's cash reserve held in US dollars.
During the same week, Strategy bought back approximately 1.39 million STRC shares at a cost of $132.2 million. The company did not execute any buybacks of its other preferred securities or common MSTR stock.
In Monday's premarket trading, STRC declined 0.12% to $94.67 following Friday's closing price of $94.78, which represented a 1.03% decrease, based on data from Yahoo Finance.
Throughout this period, the company disclosed zero Bitcoin transactions involving either purchases or sales. Its current holding of 840,447 BTC was obtained for a combined total of $63.36 billion, which includes associated fees and expenses, representing an average acquisition cost of $75,385 per coin.
As of Sunday, Strategy's cash reserve in US dollars totaled $4.80 billion, which includes anticipated proceeds from stock sales awaiting settlement. This reserve serves the purpose of funding dividend payments on preferred stock and covering interest obligations on the company's outstanding debt.