Software company MicroStrategy announces an extraordinary shareholder meeting to discuss acquiring more Bitcoins through increased stock sales of the company.
Microstrategy has gone all-in on its appetite for Bitcoin, and the Michael Saylor-led company is constantly thinking of ways to buy more of the blue-chip asset. In the latest development, the business intelligence company’s shareholders will meet today to discuss how to buy more Bitcoin.
According to the DisclosureMicroStrategy shareholders will discuss and vote on key proposals to improve Bitcoin Strategy 21/21. A key part of the meeting would be the search for an increase in the number of shares available for sale.
MicroStrategy is considering issuing shares
The software company will vote on internal opportunities to raise more capital to raise Bitcoin through stock sales. Subject to approval, the Company intends to increase the issuance of its common and preferred shares.
MicroStrategy proposes to increase its authorized Class A shares from $300 million to $10.33 billion. It also intends to increase the authorized issuance of preferred stock from $5 million to $1.005 billion.
At the same time, this would make it easier to raise capital for further Bitcoin purchases. Notably, MicroStrategy raised $561 million last week by issuing over a million of its shares bought 5,262 BTC with the means realized.
Additionally, the pro-Bitcoin listed company will consider aligning incentives for new directors with its Bitcoin strategy. MicroStrategy shareholders will vote on an amendment to the 2023 Equity Incentive Plan that would automatically grant shares to new board members.
