MSTR - MicroStrategy Ups Convertible Note Offering To $700M To Fuel Bitcoin Acquisitions | Benzinga
MicroStrategy (NASDAQ:MSTR) on Friday announced an increase in its convertible senior notes offering to $700 million, up from the previously planned $500 million.
These notes, due in 2032, will be sold in a private offering to institutional investors under Rule 144A of the Securities Act of 1933, according to the company.
Details Of The Offering
The notes, bearing an interest rate of 2.25% per annum, will be sold to qualified institutional buyers. Interest will be paid semi-annually on June 15 and Dec. 15, beginning Dec. 15, 2024.
The offering, expected to close on June 17, 2024, includes an option for initial purchasers to buy an ...