MicroStrategy (MSTR) announced that it intends to offer, in a public offering, 2,500,000 shares of its “perpetual strike preferred stock.”

MicroStrategy (NASDAQ:MSTR) has proposed an offering of 2.5M shares of its Series A Perpetual Strike Preferred Stock. The company plans to use the net proceeds from the offering for general corporate purposes,

MicroStrategy, a business intelligence and Bitcoin-focused company, plans to offer 2.5 million shares of preferred stock to fund general purposes and Bitcoin acquisitions.

MicroStrategy intends to use the net proceeds from the offering for general corporate purposes, including the acquisition of bitcoin and for working capital. The perpetual strike preferred stock will have a liquidation preference of $100 per share and will accumulate cumulative dividends at a fixed rate that will be determined at the pricing of the offering.