Another company has announced that it will follow in the footsteps of MicroStrategy, which issued bonds to raise more Bitcoin (BTC).
Accordingly, Riot Platforms announced that it will offer $500 million worth of convertible senior notes for institutional use and to purchase Bitcoin.
Bitcoin mining company Riot Platforms announced in its official statement that it plans to issue $500 million in convertible senior notes due in 2030.
Proceeds will be used to purchase Bitcoin and general corporate expenses. An additional $75 million in notes may be issued if the initial purchasers exercise their option. The notes will be unsecured and convertible into cash, stock, or a combination, with terms determined at pricing.
“Riot intends to use the net proceeds from the bond offering to purchase additional Bitcoin and for general corporate purposes.
The Notes will be offered and sold to persons reasonably believed to be qualified institutional buyers pursuant to Rule 144/A of the Securities Act.”
*This is not investment advice.
