Strategy (MSTR) has increased the size of a preferred equity offering to $2 billion from $500 million, Bloomberg said Thursday, citing a person familiar with the matter.

The bitcoin-focused company is expected to price the shares, which provide an initial dividend of 9%, at a 10% discount to their $100 face value, according to the person.

The net proceeds will be allocated for various purposes, including purchasing bitcoin, the report said.

Shares were up 1% in recent afternoon trading.

(Market Chatter news is derived from conversations with market professionals globally. This information is believed to be from reliable sources, but may include rumor and speculation. Accuracy is not guaranteed.)

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