MicroStrategy plans to issue $600 million in private placement of convertible senior notes to buy more Bitcoin
MicroStrategy announced on its official website that it plans to issue up to $600 million of senior secured notes due 2028 in a private offering to qualified institutional buyers. The net proceeds from the sale of the notes will be used to purchase additional bitcoin and for general corporate purposes.
These notes will be unsecured senior obligations of MicroStrategy and will bear interest payable semi-annually in arrears on March 15 and September 15 of each year, beginning on September 15, 2021. Unless earlier repurchased or redeemed, the notes will mature on March 15, 2031.
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