MicroStrategy Announces $700 mn Convertible Notes Offering
By Kapil Rajyaguru
MicroStrategy unveiled plans to collect $700 million using convertible senior notes due in 2028, with $500 million allocated for the redemption of registered secured notes and the rest for the hike in Bitcoin holdings and support in business activities.
The company is also offering the initial buyers an option to purchase up to $105 million in additional notes. Notwithstanding the 4.9% plunge in MSTR stocks amidst Bitcoin’s drop in price, MicroStrategy, driven by Executive Chairman Michael Saylor, has secured 244,800 BTC valued at $14.2 billion, thus proving its loyalty to Bitcoin.
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