MSTR - MicroStrategy Doubles Down On Bitcoin With $786M Purchase | Benzinga
MicroStrategy (NASDAQ:MSTR) on Thursday reaffirmed its dedication to Bitcoin (CRYPTO: BTC) by acquiring an additional 11,931 BTC for a total expenditure of $786 million.
What Happened: On June 18, the company concluded a private offering of convertible senior notes, featuring a 2.25% coupon and a 35% conversion premium over the U.S. composite volume-weighted average price of MicroStrategy’s class A common stock.
The offering was well-received, expanding to a total of $800 million in aggregate principal amount, which included the initial purchasers’ exercise of their option to purchase an additional $100 million of notes.
This led to net proceeds of approximately ...