According to Foresight News, MicroStrategy has successfully completed a significant $1.01 billion convertible note offering with a 0.625% coupon and a 40% conversion premium. After accounting for initial purchaser discounts, commissions, and estimated issuance expenses payable by MicroStrategy, the net proceeds from the sale of the notes amount to approximately $997.4 million.
MicroStrategy plans to use the net proceeds from the sale to fully redeem the outstanding principal amount of its 6.125% senior secured notes due 2028, totaling $500 million. The remaining balance of the net proceeds will be used to acquire additional Bitcoin and for general corporate purposes.
