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.
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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.
