MicroStrategy通過新的優先股問題籌集了5.634億美元，但市場反應混合了

根據您今天早上閱讀的新聞媒體的不同，對MicroStrategy的新Strk的投資需求要么遠遠遠遠遠遠遠遠遠遠遠遠是公司的目標。

MicroStrategy’s recent capital raise fell short of the company’s goal, according to calculations by market participants.

根據市場參與者的計算，MicroStrategy最近的資本增長未達到該公司的目標。

The Nasdaq-listed business aimed to raise $250 million with its new Series A Perpetual Strike Preferred Stock, but ended up securing $563.4 million, as per a press release.

納斯達克上市的業務旨在以其新的A系列A Perpetual Strike優先股籌集2.5億美元，但根據新聞稿，最終獲得了5.634億美元。

However, the company’s press release stated that it intended to settle a public offering of 8% dividend-yielding stock with a liquidation preference of $100 per share, but ended up offering those shares at $80 apiece. This suggests that there was not enough demand from investors to sell that quantity at $85, $90, or $95 per share.

但是，該公司的新聞稿表示，它打算以每股100美元的清算優先股份清算8％的股息收益股票，但最終以每股80美元的價格提供這些股票。這表明投資者沒有足夠的需求以每股85美元，90美元或95美元的價格出售該數量。

As a reminder, liquidation preference is the right to receive money back first — a “preference” before other equity owners — in the event of a “liquidity” (payout) event such as acquisition, public offering, or dividend.

提醒您，如果發生“流動性”（支出）活動，例如收購，公開發行或股息，則清算優先是首先獲得資金的權利 - 與其他股權所有者相比。

The lower the price at which the shares are sold, the greater the liquidation preference that investors will enjoy. In this case, the 20% discount on the liquidation preference meant that investors were able to secure a significant advantage over common shareholders.

出售股票的價格越低，投資者將享受的清算優先級就越大。在這種情況下，清算偏好的20％折扣意味著投資者能夠比普通股東獲得重大優勢。

This is especially relevant considering that MicroStrategy’s leverage strategy relies on these types of financial instruments to secure capital for its bitcoin purchases.

考慮到MicroStrategy的槓桿策略依賴於這些類型的金融工具來確保其比特幣購買的資本，這一點尤其重要。

The company’s latest capital raise comes after a year of pivoting towards BTC, which began in August 2020. Since then, the firm has acquired 132,500 BTC at an average price of around $30,397.

該公司最新的資本籌集是在2020年8月開始的一年旋轉BTC的一年之後。此後，該公司以平均價格收購了132,500 BTC，平均價格約為30,397美元。