MicroStrategy Incorporated has successfully completed a private offering of convertible senior notes on March 8, 2024, raising $800 million, which includes the exercise of an option by initial purchasers to acquire an additional $100 million in notes. The offering featured a 0.625% coupon and a conversion premium of approximately 42.5% over the class A common stock's last reported sale price as of March 5, 2024. The net proceeds for MicroStrategy from the offering amounted to approximately $782.0 million. Subsequently, between February 26, 2024, and March 10, 2024, MicroStrategy utilized $781.1 million from the offering proceeds and $40.6 million of excess cash to purchase approximately 12,000 bitcoins at an average price of $68,477 per bitcoin. As a result, as of March 10, 2024, MicroStrategy and its subsidiaries hold a total of approximately 205,000 bitcoins, acquired at an aggregate cost of $6.91 billion and an average price of $33,706 per bitcoin, inclusive of fees and expenses.

MicroStrategy Incorporated has successfully completed a private offering of convertible senior notes on March 8, 2024, raising $800 million, which includes the exercise of an option by initial purchasers to acquire an additional $100 million in notes. The offering featured a 0.625% coupon and a conversion premium of approximately 42.5% over the class A common stock's last reported sale price as of March 5, 2024. The net proceeds for MicroStrategy from the offering amounted to approximately $782.0 million. Subsequently, between February 26, 2024, and March 10, 2024, MicroStrategy utilized $781.1 million from the offering proceeds and $40.6 million of excess cash to purchase approximately 12,000 bitcoins at an average price of $68,477 per bitcoin. As a result, as of March 10, 2024, MicroStrategy and its subsidiaries hold a total of approximately 205,000 bitcoins, acquired at an aggregate cost of $6.91 billion and an average price of $33,706 per bitcoin, inclusive of fees and expenses.