PANews reported on June 14 that MicroStrategy (NASDAQ: MSTR) announced the pricing of its 2.25% convertible senior notes ("Notes") with a total principal amount of US$700 million due in 2032. MicroStrategy also granted the initial purchasers of the Notes the option to purchase up to US$100 million in total principal amount of Notes within 13 days from the date of the initial issuance of the Notes. This issuance is larger than the previously announced issuance of US$500 million in total principal amount of Notes. The issuance is expected to close on June 17, 2024, subject to customary closing conditions.

Earlier news, MicroStrategy announced that the company plans to issue $500 million in total principal convertible senior notes due in 2032 to qualified institutional buyers in a private placement, and also expects to grant the initial purchasers of the notes the option to purchase up to $75 million in total principal within 13 days of the first issuance of the notes. MicroStrategy intends to use the net proceeds from the sale of the notes to purchase more Bitcoin and for general corporate purposes.