According to BlockBeats, MicroStrategy has announced that it has sent a full redemption notice to the trustee of its 0.750% convertible preferred notes due 2025 (CUSIP number: 594972 AC5). The total face value of the notes to be redeemed is $650 million, which is equivalent to the total face value of the notes currently held by investors.
The notice requires the redemption of all outstanding notes on July 15, 2024, the 'redemption date'. The redemption price is equal to 100% of the principal amount of the notes to be redeemed, plus any interest accrued but not yet paid as of the redemption date, unless converted earlier. This move by MicroStrategy is a significant step in managing its financial obligations and ensuring the company's stability moving forward.