Latham & Watkins Represents MicroStrategy Incorporated in US$563.4 Million Strike Preferred Stock Offering

On February 5, 2025, MicroStrategy Incorporated d/b/a Strategy (Nasdaq: MSTR) (Strategy), the world’s first and largest Bitcoin treasury company, closed its offering of 7,300,000 shares of 8.00% Series A Perpetual Strike Preferred Stock, at a public offering price of US$80 per share. The net proceeds from the offering were approximately US$563.4 million, after deducting the underwriting discounts and commissions and MicroStrategy’s estimated offering expenses.

Latham & Watkins LLP represented Strategy in the offering with a corporate team led by partners Greg Rodgers, Marc Jaffe, and Brittany Ruiz, with associates Nick Gonzalez and Kan Ni. Advice was also provided on convertible equity matters by partner Arash Aminian Baghai, with associates Ryan Gold and Andrew Bentz; on tax matters by partners Bora Bozkurt and Jocelyn Noll, with associate Michael Yu; on digital assets matters by partner Jenny Cieplak; and on CFTC matters by partner Yvette Valdez, with associate Adam Fovent.