Strategy To Sell $2.0 Billion In 0% Notes To Buy More Bitcoin

Strategy (NASDAQ: MSTR), formerly known as MicroStrategy, has launched an offering for $2.0 billion in senior notes this morning that will be used to acquire further bitcoin.

The offering follows a week of the company failing to acquire any further cryptocurrency for the second time in 14 weeks.

The offering is to consist of $2.0 billion in aggregate principal of 0% convertible senior notes that will be due in 2030. The notes have been offering in a private offering to “persons reasonably believed to be qualified institutional buyers.” An option has also been provided for the potential sale of up to $300 million in additional notes.

The notes are redeemable for cash at Strategy’s option any time on or after March 5, 2027, provided the last reported sale price per share of Strategy’s Class A common stock exceeds 130% of the conversion price.

A conversion price for the notes has not yet been determined.

Strategy currently holds 478,740 bitcoin, which was acquired for an average price of $65,033 per bitcoin.


Information for this briefing was found via Sedar and the sources mentioned. The author has no securities or affiliations related to this organization. Not a recommendation to buy or sell. Always do additional research and consult a professional before purchasing a security. The author holds no licenses.

Video Articles

200 Grams of Gold And 21% Copper — That’s Not Normal | Matt Wilson – Sterling Metals

Silver at $100? This Time It Might Stay There. | David Morgan

Critical Minerals Are Rerating! | John Passalacqua – First Phosphate

Recommended

Steadright Enters MOU To Acquire Historic Goundafa Polymetallic Mine In Morocco

Military Seizes Power in Madagascar After President Flees

Related News

MicroStrategy: Canaccord Initiates With $920 Price Target

On Friday, Canaccord Genuity initiated coverage on MicroStrategy (NASDAQ: MSTR) with a $920 price target...

Monday, April 12, 2021, 04:03:00 PM

MicroStrategy Now Owns Over $3 Billion in Bitcoin Following Latest Crypto Purchase

MicroStrategy (NASDAQ: MSTR), the US-based software company which as of late has become known for...

Monday, June 21, 2021, 02:38:00 PM

MicroStrategy, Michael Saylor Sued by Washington DC Over Tax Fraud

MicroStrategy (NASDAQ: MSTR) founder and former executive chairman Michael Saylor was slapped with a lawsuit...

Wednesday, August 31, 2022, 04:59:02 PM

MicroStrategy Obtains $205 Million Loan Collateralized With $820 Million In Bitcoin

MicroStrategy Inc (NASDAQ: MSTR) evidently is looking for ways to acquire additional bitcoin. The firm...

Tuesday, March 29, 2022, 09:05:47 AM

Bitcoin Price Slips After MicroStrategy Halts Buying Spree

After snapping up bitcoin almost weekly for three months, MicroStrategy (NASDAQ: MSTR) abruptly paused its...

Tuesday, February 4, 2025, 12:14:00 PM