Summary by Futu AI
MicroStrategy Incorporated, a publicly-traded company known for its Bitcoin development and enterprise analytics software, has announced a private offering of convertible senior notes due 2031, initially amounting to $500 million with an option for initial purchasers to buy an additional $75 million. The offering, which targets qualified institutional buyers under Rule 144A, was first reported on March 13, 2024, and subsequently, the company priced the offering at $525 million on March 15, 2024, with the possibility of an increase to $78.75 million if the additional notes are purchased. The closing of the offering is expected on March 18, 2024, subject to customary conditions. MicroStrategy estimates net proceeds of approximately $515 million, or $592.3 million if the additional notes are fully purchased, after deductions. The company plans to use the proceeds to acquire more...Show More