(Updates with the latest stock price movement in the headline and first paragraph.)
MicroStrategy's (MSTR, STRK) shares were down more than 12% in recent Monday trading after the company said it launched an up to $21 billion at-the-market offering for its 8% Series A perpetual strike preferred stock, which is convertible into class A common shares.
Net proceeds will be used for general corporate purposes, including bitcoin purchases and working capital, the company said.
Price: 251.53, Change: -35.65, Percent Change: -12.41
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