MicroStrategy Incorporated (NASDAQ:MSTR) shares are trading lower Tuesday amid a pullback in the price of Bitcoin. The company announced the completion of its previously announced offering and the purchase of additional bitcoins.
What To Know:
MicroStrategy announced it has completed its previously announced offering of 0.875% convertible senior notes due 2031. The aggregate principal amount of the notes sold in the offering was $603.75 million.
The company also announced that, during the period between March 11 and March 18, it acquired approximately 9,245 additional bitcoins, using $592.3 million of proceeds from the offering, for approximately $623 million in cash, at an average price of approximately $67,382 per bitcoin.
As of March 18, the company holds approximately 214,246 bitcoins, acquired at ...