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MicroStrategy AGM to Vote on Plan to Increase Share Offering on January 21st

MicroStrategy AGM to Vote on Plan to Increase Share Offering on January 21st

Bitget2025/01/17 15:12

Jan. 17 (Bloomberg) -- MicroStrategy Inc.'s Michael Saylor may soon own nearly as many shares of common stock as market giants Amazon.com Inc. and Alphabet Inc. have outstanding to fund the company's massive bitcoin purchases. Analysts expect MicroStrategy to easily pass a company-sponsored proposal to increase the number of authorized Class A common shares to 10.3 billion from 330 million when shareholders vote on Jan. 21.Saylor controls about 47 percent of the voting power. That would give MicroStrategy the potential to have more shares outstanding than every company in the Nasdaq 100 except NVIDIA, Apple, Alphabet and Amazon. The company's shareholders are also expected to pass an amendment on Jan. 21 to increase the number of authorized preferred shares from 5 million to 1 billion. MicroStrategy plans to use the stock increase to fund private transactions in Class A stock, to market equity offerings and to settle redemptions or conversions of convertible debentures, according to the proxy document.

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