MicroStrategy Announces Proposed Private Institutional Offering of $500M of Convertible Senior Notes to Acquire Additional Bitcoin
Portfolio Pulse from Benzinga Newsdesk
MicroStrategy (NASDAQ:MSTR) plans to offer $500 million in convertible senior notes to institutional buyers, with an option for an additional $75 million. The proceeds will be used to acquire more Bitcoin and for general corporate purposes.
June 13, 2024 | 10:37 am
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MicroStrategy is issuing $500 million in convertible senior notes to acquire more Bitcoin and for general corporate purposes. This move could increase the company's Bitcoin holdings and impact its stock price.
The issuance of convertible senior notes to acquire more Bitcoin could positively impact MicroStrategy's stock price in the short term, as it aligns with the company's strategy of increasing its Bitcoin holdings. Investors may view this as a bullish move.
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