MicroStrategy announces $700 million convertible senior notes offering

MicroStrategy announced its issuance of $700 million aggregate principal amount of 0.625% convertible senior notes due 2030. The notes will be sold in a private offering to persons who are qualified institutional buyers pursuant to Rule 144A under the Securities Act of 1933, as amended. MicroStrategy has also granted the initial purchasers of the Notes an option to purchase up to an additional $100.0 million in the aggregate principal amount of the Notes for a period of 13 days beginning on and including the date on which the Notes were first issued. The offering is an increase from a previously announced offering of $600 million in aggregate principal amount of notes. The offering is expected to close on March 8, 2024, subject to customary closing conditions. It was previously reported that MicroStrategy plans to issue US$600 million in convertible senior notes to purchase Bitcoin, etc.