MicroStrategy Announces Pricing Of Offering Of Convertible Senior Notes - Quick Facts

(RTTNews) - MicroStrategy (MSTR) announced the pricing of offering of $700 million aggregate principal amount of 2.25% convertible senior notes due 2032. The notes will be sold in a private offering to persons reasonably believed to be qualified institutional buyers. MicroStrategy granted to the initial purchasers of the notes an option to purchase, within a 13-day period beginning on, and including, the date on which the notes are first issued, up to an additional $100 million aggregate principal amount of the notes. The offering was upsized from the previously announced offering of $500 million aggregate principal amount of notes. The offering is expected to close on June 17, 2024. The notes will mature on June 15, 2032.

MicroStrategy estimates that the net proceeds will be approximately $687.8 million. The company intends to use the net proceeds to acquire additional bitcoin and for general corporate purposes.