đ MicroStrategy's at it again! They're rolling out $875M in convertible senior notes with a 0.625% interest rate per annum. These notes are exclusively for the big institutional players under the Securities Act 1933 and will close on Sep 19, 2024. đïž
đŒ The notes mature on Sep 15, 2028, unless redeemed, repurchased, or converted earlier. Interest is paid semi-annually starting Mar 15, 2025. MicroStrategy can redeem them after Dec 20, 2027.
đĄ Conversion options? Cash, MicroStrategyâs class A common stock, or both! Initial conversion rate: 5.4589 shares per $1,000 principal.
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