MicroStrategy ( NASDAQ: MSTR ) announced on Wednesday the pricing of its private offering of convertible senior notes, with plans to use the funds raised from the sale for acquiring additional bitcoins ( BTC-USD ). The data mining software maker intends to raise at least $684.3M in proceeds from the offering of $700M aggregate principal amount of convertible senior notes due 2030. The sale was upsized from the previously announced offering of $600M aggregate principal amount of notes. The notes will be unsecured, senior obligations of MicroStrategy, and will bear interest at a rate of 0.625% per annum, payable semi-annually in arrears on March 15 and September 15 of each year, beginning on September 15, 2024. Initial purchasers have been granted an option to purchase up to an additional $100M of the notes within 13 days of the note's first issue. Net proceeds will be approximately $684.3M, or $782M if the initial purchasers exercise in full their option to purchase additional notes. MicroStrategy ( MSTR ) intends to use the proceeds to acquire additional bitcoin and for general corporate purposes. The notes will mature on March 15, 2030, unless earlier repurchased, redeemed or converted in accordance with their terms. The offering is expected to close on March 8, 2024, subject to satisfaction of customary closing conditions. Shares of MicroStrategy ( MSTR ) rose over 7% premarket More on MicroStrategy MicroStrategy: The Top-Pick For Bitcoin Exposure MicroStrategy: All In On Bitcoin MicroStrategy Incorporated (MSTR) Q4 2023 Earnings Call Transcript Bitcoin rebounds after a sharp decline, boosting crypto stocks Bitcoin touches new record high for first time in over two years
