Strategy (MSTR) has boosted its cash reserves to $3.75 billion after raising $544.5 million through the sale of common stock last week.
Executive Chairman Michael Saylor said the company’s current cash balance provides enough coverage for roughly 2.1 years of preferred stock dividend payments.
The funds were generated from the sale of more than 5.4 million shares of common stock, according to a regulatory filing submitted Monday morning.
Strategy used a portion of the proceeds, around $25 million, to buy back 288,930 shares of its high-yielding preferred stock, STRC.
The company did not alter its bitcoin position during the period, keeping its total holdings unchanged at 843,775 BTC.
MSTR shares and STRC both gained approximately 2.5% in pre-market trading as bitcoin climbed toward the $65,000 level over the weekend.
