Happycoin.club - Business intelligence company MicroStrategy announced its intention to sell $500 million in convertible notes. In the official announcement, the firm specified that the securities will mature in 2032 and will be available for purchase by qualified institutional investors in a private sale in accordance with Rule 144A of the US Securities Act of 1933.
MicroStrategy emphasized that the planned placement depends on market and other conditions. In other words, there are no guarantees as to timing, completion date, or placement conditions.
The entity also plans to grant the initial purchasers an option to purchase up to an aggregate amount of up to $75 million of additional notes within a 13-day period from the date of initial issuance.
MicroStrategy plans to use the $500 million received from the sale of bonds “to purchase additional bitcoins and for general corporate purposes.”
MicroStrategy began building its Bitcoin portfolio in August 2020. At the time, it was the first public company to invest in the flagship cryptocurrency for inflation protection purposes.
Today, MicroStrategy is the largest corporate holder of Bitcoin. As of May 1, 2024, the company owned approximately 214,400 BTC, which is valued at almost $7.5 billion.
