MicroStrategy is filing a preliminary notice with the SEC to hold a shareholder vote on several issues, including whether to increase the authorized shares of common stock and preferred stock from millions to billions.
MicroStrategy, the largest corporate owner of Bitcoin (BTC) to date, plans to hold a shareholder meeting. According to the preliminary notice filed with the SEC, MicroStrategy plans to hold the meeting sometime in early 2025, but the exact date and time have yet to be determined.
The meeting will be held via live webcast, which MicroStrategy shareholders will only be able to access via a website URL.
The purpose of the shareholders’ meeting is to vote on several items. Two of them determine the number of authorized shares of the company’s share capital issued to achieve the company’s three-year target. Known as the 21/21 Plan, MicroStrategy aims to raise $21 billion in equity capital and $21 billion in fixed income instruments, which would equate to $42 billion in capital.
“The proposals we are asking you to consider reflect a new chapter in our development as a Bitcoin Treasury Company and our ambitious goals for the future,” said Michael Saylor, Chairman of MicroStrategy.
First, shareholders are expected to vote “yes” or “no” on whether to increase the number of authorized shares of Class A common stock from 330 million shares to 10.33 billion shares. Each share unit has a value of $0.001. Next, shareholders will vote on whether to approve an increase in the number of authorized preferred shares from 5 million shares to more than 1 billion…
