The $3 billion offering of 0% convertible senior notes is part of MicroStrategy’s plans to raise $42 billion over the next three years — primarily to buy more Bitcoin.
MicroStrategy (MSTR) has completed a $3 billion offering of 0% convertible senior notes due in December 2029, with plans to use a portion or all of the proceeds to buy more Bitcoin.
The business intelligence firm announced the completion as its shares retraced over 25% on Nov. 21, Google Finance data shows.
The convertible senior notes come at a 55% premium with an implied strike price of around $672 — a predetermined price at which an option holder can buy or sell MicroStrategy’s class A common stock.
