Just-In: MicroStrategy To Raise $1.75B Through Private Offering To Buy More Bitcoin
American business intelligence and software firm MicroStrategy Inc. has announced plans to offer the public up to $1.75 billion of its Convertible Senior Notes.
MicroStrategy Inc. (Nasdaq: MSTR) has announced plans to raise $1.75 billion through a private offering of Convertible Senior Notes, to be used to acquire additional Bitcoin (CRYPTO: BTC) and for general corporate purposes.
What Happened: The business intelligence and software firm said Monday the notes will be offered to qualified institutional investors, subject to market conditions.
The initial purchasers will have an option to purchase additional notes, up to an aggregate principal amount of $250 million, exercisable within a period of three days from the initial closing date of the offering.
The notes will mature on December 1, 2029, unless earlier repurchased, redeemed or converted by the company.
Why It Matters: MicroStrategy has been pivoting towards a Bitcoin standard since 2020,ܞܞܞܞܞܞܞܞܞܞܞܞܞܞܞܞܞܞܞܞܞܞܞܞܞܞܞܞܞܞܞܞܞܞܞܞܞܞܞܞܞܞܞܞܞܞܞܞܞܞܞܞܞܞܞܞܞܞܞܞܞܞܞܞܞܞܞܞܞܞܞܞܞܞܞܞܞܞܞܞܞܞܞܞܞܞܞܞܞܞܞܞܞܞܞܞܞܞܞܞܞܞܞܞܞܞܞܞܞܞܞܞܞܞܞܞܞܞܞܞܞܞܞܞܞܞܞܞܞܞܞܞܞܞܞܞܞܞܞܞܞܞܞܞܞܞܞܞܞܞܞܞܞܞܞܞܞܞܞܞܞܞܞܞܞܞܞܞܞܞܞܞܞܞܞܞܞܞܞܞܞܞܞܞܞܞܞܞܞܞܞܞܞܞܞܞܞܞܞܞܞܞܞܞܞܞܞܞܞܞܞܞܞܞܞܞܞܞܞܞܞܞܞܞܞܞܞܞܞܞܞܞܞܞܞܞܞܞܞܞܞܞܞܞܞܞܞܞܞܞܞܞܞܞܞܞܞܞܞܞܞܞܞܞܞܞܞܞܞܞܞܞܞܞܞܞܞܞܞܞܞܞܞܞܞܞܞܞܞܞܞܞܞܞܞܞܞܞܞܞܞܞܞܞܞܞܞܞܞܞܞܞܞܞܞܞܞܞܞܞܞܞܞܞܞܞܞܞܞܞܞܞܞܞܞܞܞܞܞܞܞܞܞܞܞܞܞܞܞܞܞܞܞܞܞܞܞܞܞܞܞܞܞܞܞܞܞܞܞܞܞܞܞܞܞܞܞܞܞܞܞܞܞܞܞܞܞܞܞܞܞܞܞܞܞܞܞܞܞܞܞܞܞܞܞܞܞܞܞܞܞܞܞܞܞܞܞܞܞܞܞܞܞܞܞܞܞܞܞܞܞܞܞܞܞܞܞܞܞܞܞܞܞܞܞܞܞܞܞܞܞܞܞܞܞܞܞܞܞܞܞܞܞܞܞܞܞܞܞܞܞܞܞܞܞܞܞܞܞܞܞܞܞܞܞܞܞܞܞܞܞܞܞܞܞܞܞܞܞܞܞܞܞܞܞܞܞܞܞܞܞܞܞܞܞܞܞܞܞܞܞܞܞܞܞܞܞܞܞܞܞܞܞܞܞܞܞܞܞܞܞܞܞܞܞܞܞܞܞܞܞܞܞܞܞܞܞܞܞܞܞܞܞܞܞܞܞܞܞܞܞܞܞܞܞܞܞܞܞܞܞܞܞܞܞܞܞܞܞܞܞܞܞܞܞܞܞܞܞܞܞܞܞܞܞܞܞܞܞܞܞܞܞܞܞܞܞܞܞܞܞܞܞܞܞܞܞܞܞܞܞܞܞܞܞܞܞܞܞܞܞܞܞܞܞܞܞܞܞܞܞܞܞܞܞܞܞܞܞܞܞܞܞܞܞܞܞܞܞܞܞܞܞܞܞܞܞܞܞܞܞܞܞܞܞܞܞܞܞܞܞܞܞܞܞܞܞܞܞܞܞܞܞܞܞܞܞܞܞܞܞܞܞܞܞܞܞܞܞܞܞܞܞܞܞܞܞܞܞܞܞܞܞܞܞܞܞܞܞܞܞܞܞܞܞܞܞܞܞܞܞܞܞܞܞܞܞܞܞܞܞܞܞܞܞܞܞܞܞܞܞܞܞܞܞܞܞܞܞܞܞܞܞܞܞܞܞܞܞܞܞܞܞܞܞܞܞܞܞܞܞܞܞܞܞܞܞܞܞܞܞܞܞܞܞܞܞܞܞܞܞܞܞܞܞܞܞܞܞܞܞܞܞܞܞܞܞܞܞܞܞܞܞܞܞܞܞܞܞܞܞܞܞܞ
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