MicroStrategy Announces Proposed Private Offering Of $600M Of Convertible Senior Notes Due 2030
Portfolio Pulse from Benzinga Newsdesk
MicroStrategy Incorporated (NASDAQ:MSTR) plans to offer $600 million of convertible senior notes due 2030, with an option for initial purchasers to buy an additional $90 million. The notes, unsecured and senior, will pay interest semi-annually and may be converted into cash, shares, or a combination. The proceeds will be used to acquire more bitcoin and for general corporate purposes.
March 04, 2024 | 9:03 pm
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MicroStrategy plans a $600M offering of convertible senior notes to fund bitcoin acquisitions and corporate needs.
The announcement of a significant capital raise through convertible notes indicates MicroStrategy's aggressive investment strategy in bitcoin, potentially increasing investor interest in MSTR. The use of proceeds for bitcoin acquisitions could signal confidence in the cryptocurrency's value, possibly affecting MSTR's stock positively in the short term.
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