$MSTR : This week, they raised 460 million by selling common stock—didn’t buy a single coin. After one operation, it’s essentially long-time shareholders paying out of pocket to fund the interest dividend of preferred stock!
Just released documents: on MSTR, the stock price rebounded last week, mNAV also ticked up, and then they could sell common stock again..
So last week they sold another big batch, raising 460 million.
Four preferred shares—none issued this week on Monday…
But they sold shares without buying any coins. The entire 460 million went into cash reserves; their cash reserves are now up to 3 billion…
After all this, it’s as if the common shares held by existing shareholders are diluted (coins per share decrease).
In other words, now it’s long-time shareholders paying to support preferred shareholders’ dividend.
MSTR has already fully shifted to a defensive posture.. From疯狂买币 to preserving credit and keeping the cash flow alive..
As for the diluted long-time shareholders… well, they don’t really care about that…
All we can say is: being diluted a bit is better than blowing up, right…
#MSTR