MicroStrategy Announces Proposed Private Offering Of $500M Of Convertible Senior Notes Due 2031
Portfolio Pulse from Benzinga Newsdesk
MicroStrategy Incorporated (NASDAQ:MSTR) plans to offer $500 million of convertible senior notes due 2031 to qualified institutional buyers, with an option for an additional $75 million. The notes, unsecured and bearing semi-annual interest, may be converted into cash, shares, or a combination. The offering aims to fund further bitcoin acquisitions and general corporate purposes.
March 13, 2024 | 8:22 pm
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MicroStrategy plans a significant convertible note offering to fund bitcoin acquisitions and corporate activities.
The announcement of a substantial convertible note offering by MicroStrategy is likely to be viewed positively by investors who support the company's aggressive bitcoin acquisition strategy. This move could potentially increase investor confidence in MicroStrategy's long-term growth plans, leading to a short-term positive impact on its stock price. However, the impact will also depend on market conditions and investor sentiment towards bitcoin.
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