According to breaking information, MicroStrategy today announced that, subject to market conditions and other factors, it will offer $600 million of aggregate principal convertible senior notes due 2030 in a private offering to persons reasonably believed to be qualified institutional buyers pursuant to Rule 144A under the Securities Act of 1933, as amended. announced his plans.
MicroStrategy plans to use the net proceeds from the sale of the notes to purchase additional Bitcoin and for general corporate purposes.
Subject to certain conditions, on or after March 22, 2027, MicroStrategy may repurchase all or a portion of the notes for cash.
Bondholders will have the right to require MicroStrategy to repurchase all or a portion of their bonds for cash on September 15, 2028.
The notes will be convertible into cash, shares of MicroStrategy’s class A common stock, or a combination of cash and shares of MicroStrategy’s class A common stock, at MicroStrategy’s option.
*This is not investment advice.
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