MicroStrategy (MSTR) mentioned on Thursday it plans to supply $500 million in convertible senior notes due 2032, proceeds of which it is going to use for added Bitcoin (BTC) purchases and different company functions.
The providing is topic to market circumstances with no assured timing or phrases.
“MicroStrategy additionally expects to grant to the preliminary purchasers of the notes an choice to buy, inside a 13-day interval starting on, and together with, the date on which the notes are first issued, as much as a further $75 million mixture principal quantity of the notes,” the corporate mentioned within the press launch.
Beginning June 20, 2029, MicroStrategy could redeem all or a part of the notes for money, topic to sure circumstances. The personal providing shall be accessible to people certified as institutional patrons beneath Rule 144A of the Securities Act of 1933.
MicroStrategy at present holds 214,400 BTC, valued at over $14 billion, making it the most important public-listed Bitcoin holder.
MSTR shares fell 1.5% in premarket buying and selling.
