On March 8, 2024, MicroStrategy Incorporated completed its private offering of 0.625% convertible senior notes due 2030, raising an aggregate principal amount of $800 million. This includes $100 million in notes issued following the full exercise of an option by initial purchasers on March 6, 2024. The offering was made to qualified institutional buyers under Rule 144A of the Securities Act of 1933. The net proceeds, which amounted to approximately $782 million after deductions, are being used by the company to acquire additional bitcoin. The notes, which are senior unsecured obligations, will mature on March 15, 2030, and are convertible into MicroStrategy's class A common stock at an initial rate of 0.6677 shares per $1,000 principal amount. The conversion price is set at a premium of approximately 42.5% above the stock's last reported sale...Show More

On March 8, 2024, MicroStrategy Incorporated completed its private offering of 0.625% convertible senior notes due 2030, raising an aggregate principal amount of $800 million. This includes $100 million in notes issued following the full exercise of an option by initial purchasers on March 6, 2024. The offering was made to qualified institutional buyers under Rule 144A of the Securities Act of 1933. The net proceeds, which amounted to approximately $782 million after deductions, are being used by the company to acquire additional bitcoin. The notes, which are senior unsecured obligations, will mature on March 15, 2030, and are convertible into MicroStrategy's class A common stock at an initial rate of 0.6677 shares per $1,000 principal amount. The conversion price is set at a premium of approximately 42.5% above the stock's last reported sale price on March 5, 2024. MicroStrategy has outlined terms under which the notes can be redeemed, repurchased, or converted, and has specified the conditions under which it may increase the conversion rate. The company has also stated that neither the notes nor the underlying shares have been registered under the Securities Act and will not be offered or sold without registration or an applicable exemption. The completion of the offering was announced via a press release on March 11, 2024.