MicroStrategy to hold 2025 shareholders meeting to vote on boosting capital stock to 10.33b shares

MicroStrategy files a preliminary notice with the SEC for shareholders to vote on various items, including whether to increase authorized shares of common stock and preferred shares from millions to billions.

MicroStrategy, the largest institutional owner of Bitcoin (BTC) to date, plans to hold a meeting with shareholders. According to a preliminary notice filed with the SEC, MicroStrategy plans to hold the meeting in early 2025, but the exact date and time have not yet been determined.

The meeting will be held via a live webcast, accessible only to MicroStrategy shareholders via the website URL.

The purpose of the shareholders’ meeting is to vote on various items; two of which will determine the authorized number of shares of the company’s capital stock issued to achieve the company’s three-year target. Known as the 21/21 plan, MicroStrategy aims to raise $21 billion in equity capital and $21 billion in fixed income instruments; This corresponds to a capital of 42 billion dollars.

“The proposals we ask you to consider reflect a new chapter in our evolution as the Bitcoin Treasury Company and our ambitious goals for the future,” said MicroStrategy President Michael Saylor.

First, shareholders are expected to vote ‘yes’ or ‘no’ on whether to increase the number of authorized shares of Class A ordinary shares from 330 million shares to 10.33 billion shares. Each share unit is worth $0.001. Shareholders will then vote on whether to approve an increase in the number of preferred shares from 5 million shares to more than 1 billion.

Not only that, MicroStrategy shareholders will also vote on whether new members of the company’s Board of Directors will be provided with automatic capital reward grants upon their appointment.

Finally, shareholders will approve or reject proposals to postpone the Special Meeting if additional proxies must be requested if the number of votes does not reach the required threshold.

Previously, MicroStrategy added 5,262 Bitcoin to the company reserves. The latest acquisition brings the Virginia-based software firm’s total BTC holdings to 444,262 BTC.