MicroStrategy Incorporated has announced an underwritten offering of 7.3 million shares of its newly issued 8.00% Series A Perpetual Strike Preferred Stock at $80.00 per share. The company expects to generate approximately $563.4 million in net proceeds after deducting underwriting discounts, commissions, and expenses. The issuance and sale are scheduled to settle on February 5, 2025, subject to customary closing conditions.

MicroStrategy intends to use the proceeds for general corporate purposes, including acquiring additional bitcoin and funding working capital. The offering is being conducted under an effective shelf registration statement on Form S-3ASR filed with the SEC, and the sale will be made through a prospectus supplement and an accompanying prospectus.

The underwriting agreement, signed on January 30, 2025, with Barclays Capital Inc. as the lead underwriter, includes standard representations, warranties, and indemnification obligations. The press release issued on January 31, 2025, provides further details on the offering, emphasizing that it is not an offer to sell or a solicitation to buy securities.

MicroStrategy included a forward-looking statement cautioning investors about potential risks related to market conditions, regulatory factors, and the completion of the offering. The company also referenced its most recent SEC filings for additional risk factors.