MicroStrategy Issues $875 Million Convertible Senior Notes, Part of Proceeds to Be Used for Bitcoin Purchases
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September 18, 2024
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MicroStrategy Announces $875 Million Convertible Senior Notes Offering
MicroStrategy has announced the issuance of $875 million principal amount of convertible senior notes due 2028, carrying a 0.625% interest rate. The offering is expected to close on September 19, 2024.
MicroStrategy intends to use the net proceeds from the offering to redeem all $500 million of the outstanding principal amount of its 6.125% senior secured notes due 2028 (Senior Secured Notes), and to use the remainder of the net proceeds to purchase additional Bitcoin and for general corporate purposes.
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