MicroStrategy is doubling down on its debt plans to fund another massive Bitcoin acquisition.
MicroStrategy plans to issue convertible senior notes totaling $500 million, which will mature in 2032, in order to raise funds to increase its investment in Bitcoin.
This private placement is mainly aimed at qualified institutional investors, with the aim of strengthening the company's resources in an environment of market volatility.
As of June 13, MicroStrategy holds more than 1% of the circulating supply of Bitcoin, equivalent to 214,400 BTC, worth approximately $15 billion. $BTC
Release Details
MicroStrategy announced that it will give the initial purchasers an additional option to purchase an additional $75 million of senior notes within 13 days of the issuance. The convertible senior notes are unsecured and are set to mature on June 15, 2032. Interest payments on the notes will be made semi-annually, with the first interest payment expected to be made on December 15, 2024.
The company stated that it will have the right to redeem the notes, in whole or in part, for cash after June 29, 2029, at its option, subject to the satisfaction of certain conditions that provide financial flexibility. $MSTR
Investors have the option to convert these bonds into cash, MicroStrategy Class A common stock, or a combination of both. This will constitute a versatile financial instrument that is consistent with the company's growth strategy and investment approach. The specific terms of the conversion, including the conversion rate and price, will be determined at the pricing stage of the bond offering.
It is reported that MicroStrategy's Class A common stock will not be registered under the Securities Act or state securities regulations at the time of issuance and any subsequent conversion of the stock, which means that these shares are not allowed to be issued or sold in the United States without registration or an exemption from registration requirements.
MicroStrategy said it plans to use the proceeds from the offering to increase its investment in bitcoin and to meet the company's general operating needs in line with Chairman Michael Saylor's commitment to the asset. #MicroStrategy #比特币投资 #可转换票据 #MichaelSaylor
Conclusion:
With the successful issuance of this convertible senior bond, MicroStrategy not only demonstrated its firm belief in Bitcoin investment, but also demonstrated the company's innovative financing strategy in the capital market.
Through this flexible financial tool, MicroStrategy further solidifies its position as a major Bitcoin holder and lays a solid foundation for future growth and expansion.
"Under the leadership of Michael Saylor, the company will continue to explore and leverage blockchain technology, advance the role of digital assets in corporate strategy, and create long-term value for shareholders. This issuance is not only a milestone in MicroStrategy's financial strategy, but also an important moment in the entire cryptocurrency space."
