MICROSTRATEGY PURCHASES ADDITIONAL 7,420 #BTC AFTER SELLING $1 BILLION IN BONDS
MicroStrategy announced that it purchased an additional 7,420 BTC for $458.2 million (at a price of ~$61,750 per coin) after selling $1.01 billion in convertible senior notes with a rate of 0.625% per annum due 2028.
The net proceeds from the sale of securities were approximately $997.4 million. $500 million will be used to repay the remaining principal amount of the senior secured notes due 2028 with a coupon rate of 6.125%.
After the redemption, the collateral for the notes, which is approximately 69,080 BTC, will be unlocked.
The rest of the money was used to buy Bitcoin and for corporate purposes. The company's balance sheet already contains 252,220 BTC, purchased for $9.9 billion at an average rate of ~$39,266 per coin. Their value at the current price of the first cryptocurrency of $62,900 is ~$15.86 billion.
