Decision support software house MicroStrategy Inc said Wednesday that it completed a secondary public offering of 2.0 million shares of its common Stock at a price of $27, raising $54m. Of the shares offered, 1.585 million shares worth $42.7m were sold by the company and 415,000 shares were sold by certain selling stockholders. The net proceeds are expected to be used for working capital and general corporate purposes. Merrill Lynch & Co was lead underwriter for the offering, with Hambrecht & Quist and Friedman, Billings, Ramsey & Co, also acting as underwriters.
MICROSTRATEGY RAISES $54M IN SHARE OFFERING
