MicroStrategy Issues $875 Million Convertible Senior Notes
MicroStrategy announced today that a portion of the proceeds of its offering of 0.625% Convertible Senior Notes due 2028 in the aggregate principal amount of $875 million (the “Notes”) are intended to be used to purchase Bitcoin. The offering is expected to close on September 19, 2024.MicroStrategy intends to use the net proceeds of the offering to redeem all of the $500 million aggregate outstanding principal amount of MicroStrategy's 6.125% Senior Secured Notes due 2028 (the Senior Secured Notes) and to use the balance of the net proceeds to purchase additional bitcoins and for general corporate purposes .
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