MicroStrategy increases the scale of convertible bond issuance
According to previous reports by Zombit, MicroStrategy announced on November 18 that it would issue convertible senior notes with a 0% coupon rate totaling $1.75 billion via a private placement. However, the company further announced last night that it would increase the total amount of convertible senior notes planned for issuance from $1.75 billion to $2.6 billion, stating that it would use the net proceeds from this issuance to purchase additional Bitcoin and for general corporate purposes.
It is important to emphasize that these notes will not generate periodic interest, and the principal of the notes will not increase, but they can be converted into MicroStrategy's Class A common stock under certain conditions, providing investors with the opportunity to participate in the company's stock price appreciation. In other words, if MicroStrategy's stock price rises in the future, investors can achieve higher returns through the conversion right, rather than just relying on fixed interest income.
Following the announcement, MicroStrategy's stock price surged at the open, rising 10% this morning to $473.
Bitcoin rises above $94,000
Meanwhile, Bitcoin also rose above $94,000 last night. According to Binance trading data, Bitcoin's historical high has been pushed up to $94,786. However, after rising above $94,000 last night, it briefly dropped by 1,500 points, which, while not large for Bitcoin, caused significant price fluctuations in the altcoin market. In the past 24 hours, a total of 130,000 people were liquidated, with a total liquidation amount of $349 million, primarily in long positions.
(This article is reprinted with permission from GT Radar)
About GT Radar
GT Radar focuses on building a long-term, robust growth quantitative investment portfolio, with over 10 years of experience in stock and cryptocurrency quantitative trading. The trading system integrates over 150 strategies, aiming to provide high adaptability and flexibility, ensuring profits from the market in the most stable manner.
Join the GT Radar discussion group
Weekly Market Analysis Report
Source
