Corporate Bitcoin investor MicroStrategy has announced a Special Meeting of Shareholders to address proposals that aim to advance its Bitcoin-focused 21/21 Plan while simultaneously streamlining capital-raising efforts.
In a letter from the Executive Chairman, the company outlined three major agenda items to be decided during the meeting, which will be conducted virtually.
MicroStrategy’s New Proposals
The first proposal seeks to amend the company’s Second Restated Certificate of Incorporation to increase the number of authorized Class A shares from 330 million to 10.33 billion. This would facilitate potential future capital-raising activities.
The second involves increasing authorized preferred shares from 5 million to 1.005 billion and offering expanded financing options for strategic initiatives.
Lastly, the company aims to amend its 2023 Equity Incentive Plan to grant automatic equity awards to new directors joining the Board, aligning their compensation with MicroStrategy’s long-term Bitcoin strategy.
Since October 2024, the firm has raised over $2 billion through equity and debt instruments to expand its Bitcoin holdings, ramping up its position as a corporate leader in digital asset investment. According to the letter, the proposed amendments would provide the flexibility needed to adapt the company’s financial strategy to evolving market conditions while ensuring sustained alignment with its long-term goals.
While the company highlighted the potential for enhanced shareholder value through these measures, it went on to add that the increased share authorizations would not result in immediate dilution but instead offer a framework for gradual implementation.
Aggressive Bitcoin Pile-Up
The latest development comes just a day after MicroStrategy founder Michael Saylor announced acquiring 5,262 BTC between December 16 and 22. This stash is worth approximately $561 million and brings its total Bitcoin holdings to 444,262 BTC, acquired at an aggregate price of $27.7 billion, with an average cost of $62,257 per BTC.
Interestingly, the purchase was made at an average price of $106,662 per Bitcoin, which marks the highest price the firm has ever paid per coin.
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