According to Foresight News, MicroStrategy announced the issuance of convertible senior notes with a total principal amount of US$875 million, due in 2028 and an interest rate of 0.625%. The issuance is expected to close on September 19, 2024.

MicroStrategy intends to use the net proceeds from the offering to redeem all of the outstanding $500 million aggregate principal amount of its 6.125% Senior Secured Notes due 2028 and to use the balance of the net proceeds to purchase additional bitcoin and for general corporate purposes.